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Hassana, EIG in collaboration for key Mideast infrastructure projects

31-10-2024

Hassana Investment Company (Hassana) and EIG, a leading institutional investor to the global energy and infrastructure sectors, have signed a MoU for joint collaboration on infrastructure and energy transition projects in the Middle East through EIG’s targeted $1 billion dedicated regional fund.

The MoU underscores EIG and Hassana’s shared commitment to expand their local and regional infrastructure and energy transition investment portfolios.

By fostering participation from international investors and boosting foreign direct investment, this partnership aims to support the Kingdom of Saudi Arabia’s Vision 2030 goals and the broader regional shift toward cleaner, sustainable energy solutions.

Hassana said it is considering becoming an anchor investor in EIG’s fund with an allocation of up to $250 million

"Hassana is pleased to expand our partnership with EIG, a leader in the global energy and infrastructure sectors. This agreement reflects our shared commitment to support the growth of infrastructure investments and the facilitation of the energy transition in the Kingdom of Saudi Arabia and the rest of the region," remarked R. Blair Thomas, Chairman and CEO of EIG after signing the MoU with Saad bin Abdulmohsen Al Fadly, CEO of Hassana.

"We had the pleasure of partnering with Hassana on the Pearl Pipelines project in the Kingdom of Saudi Arabia and now we look forward to taking our relationship to the next level," stated Thomas.

"We believe energy transition is one of the defining investment themes of the next several decades and leading investors need to work together in an effort to deliver the reliable, affordable, and sustainable energy system that society requires. We are committed to doing exactly that," he added.

Abdulaziz Al Gudaimi, the Chairman of EIG’s Mena Operations, said: "Hassana and EIG continue to make a difference in the energy scene of the Middle East."

"By deploying capital into innovative energy transition projects, we are endeavoring to build a sustainable future, boost the economy, and reinforce the region's commitment to clean energy solutions for many years to come," he added.-TradeArabia News Service