RIYADH: The operator of Saudi Arabia’s Red Sea Gateway Terminal is looking to invest in ports in Africa and the Middle East, following backing from the Kingdom’s sovereign wealth fund (PIF), Bloomberg reported.
“The RSGT plans to invest in at least three international ports in the next five years,” port chief Jens Floe said. Each investment is worth $500 million, he said.
It is also aiming to spend up to $1.7 billion developing its main port in Jeddah on the Red Sea, as well as potentially investing in other Saudi ports, Bloomberg said.
Saudi Public Investment Fund (PIF) and Cosco Shipping Ports bought a stake in RSGT in January, valuing the port operator at about $880 million.
The PIF is leading a strategy to turn the Kingdom into a transport and logistics hub and support local companies looking to export products. The pandemic has also led to a renewed focus on food security in the region, where the desert environment means many countries rely on agricultural imports.
“Adding Cosco and PIF as shareholders will really accelerate our domestic and our international growth plans,” Floe said in an interview with Bloomberg.
He added that investments may come in rail and dry ports, and emerging market terminals in “less mature and less organized ports.”
Saudi Jeddah Port eyes three overseas deals worth $500m each
https://arab.news/n67j7
Saudi Jeddah Port eyes three overseas deals worth $500m each
- It is also aiming to spend up to $1.7 billion developing its main port in Jeddah on the Red Sea
Arab Energy Fund takes minority stake in Saudi energy firm APSCO
RIYADH: The Arab Energy Fund has acquired a minority stake in Saudi Arabia’s Arabian Petroleum Supply Co., backing one of the Kingdom’s largest private energy solutions providers as it looks to expand across the Middle East and beyond.
The investment initiates a partnership aimed at pursuing opportunities across the Middle East, North Africa, and select international markets, covering APSCO’s core and adjacent business sectors.
The move underscores TAEF’s commitment to investing in established regional leaders while promoting innovation and sustainable growth across the energy value chain.
According to a press release, the transaction marks The Arab Energy Fund’s first investment of 2026, following an active 2025 during which the fund completed several key deals, including investments in Jafurah Midstream Gas Co. alongside BlackRock and in the platform Tagaddod.
Khalid Al-Ruwaigh, CEO of The Arab Energy Fund, commented on the deal, saying: “APSCO represents a unique platform with strong fundamentals and a proven track record in critical energy segments.”
He added: “This investment aligns with our mandate to support high-quality energy and energy-adjacent businesses that are well-positioned to capture growth across the region and beyond.”
The Arab Energy Fund is a multilateral impact financial institution established in 1974 by 10 Arab oil-exporting countries.
Mohammed Ali Ibrahim Alireza, managing director, APSCO, said: “We welcome The Arab Energy Fund as a strategic partner supporting our next phase of growth.”
He added: “As a pioneer in energy solutions for over 60 years, APSCO remains committed to quality, reliability, and innovation, while continuing to contribute to Vision 2030 by enhancing efficiency and minimizing environmental impact.”
The partnership is designed to bolster APSCO’s long-term growth strategy, operational excellence, and geographic expansion, leveraging TAEF’s regional expertise and institutional network.
APSCO is a Saudi energy company with more than 60 years of experience in integrated energy solutions, including aviation fuels, lubricants, and a nationwide automotive retail network.
The company holds long-term partnerships with global energy leaders, including a 60-year relationship with ExxonMobil for lubricant distribution across several Middle Eastern countries. Since 1999, APSCO has also been the exclusive aviation fueling services provider for Saudia.
