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Saudi Arabia’s PIF Plans To Invest $15 Billion In Brazil, Says Brazilian Minister


Saudi Arabia’s PIF Plans To Invest $15 Billion In Brazil, Says Brazilian Minister


Saudi Arabia’s Public Investment Fund (PIF) intends to invest some $15 billion in Brazil, in areas such as green hydrogen, infrastructure and renewable energy, the South American country’s minister for energy said on Wednesday.

 

Alexander Silveira told journalists at an event in Rio de Janeiro the plans were shared by PIF during meetings with Brazilian government officials.

 

He did not offer details on when investments would be made.

 

PIF din not immediately respond to Reuters requests for comment outside normal business hours in Saudi Arabia.

 

A joint venture of PIF and Saudi Arabia Mining Company concluded in April the acquisition of 10% of Brazilian miner Vale’s base metals unit.

 

A subsidiary of PIF also has a joint venture with Brazilian chicken and pork processor BRF to make poultry products in Saudi Arabia.

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