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

      Published on Wednesday, 20 July , 2016      199 Views     
“APICORP”, “Bahri” sign investment fund agreement worth USD1.5 billion


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.

http://www.spa.gov.sa/



 

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