Saudi Arabia plans to pour 86 billion riyals ($23 billion) into beautifying its capital, Riyadh, with projects expected to create tens of thousands of jobs.
Riyadh: Saudi Arabia’s sovereign wealth fund has acquired a 40% stake in a joint venture between state energy producer Aramco and Jacobs Engineering Group Inc, according to sources.
The Public Investment Fund acquired 30% of Saudi Arabian Oil Co’s stake in Jasara Program Management Co and 10% from Jacobs, leaving Aramco with 20% and Jacobs with 40%.
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