“APICORP”, “Bahri” sign investment fund agreement worth USD1.5 billion

      Published on Wednesday, 20 July , 2016      223 Views     

Arab Petroleum Investments Corporation (APICORP) and National Shipping Company of Saudi Arabia (Bahri) today signed an agreement on the establishment of APICORP-Bahri fund for oil tankers in the presence of Minister of Energy, Industry and Mineral Resources Khalid Bin Abdul Aziz Al-Faleh in the city of Riyadh.

The purpose of this investment fund is to own about 15 oil supertankers in three phases, with a total value of up to USD1.5 billion.

In a statement to Saudi Press Agency, the Minister of Energy, Industry and Mineral Resources hailed the agreement’s signing as a strategic and vital step.



Category Gulf Business, Saudi Arabia Business | 2016/07/20 latest update at 11:35 AM
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