PIF in talks with foreign firms for investments; more Aramco shares could be listed: Al-Rumayyan

Yasir Al-Rumayyan, Saudi Aramco chairman and PIF governor

The Public Investment Fund (PIF) is in talks with a number of international companies to invest in Saudi Arabia, Financial Times reported, citing governor Yasir Al-Rumayyan.

The sovereign wealth fund is already in discussion with a number of foreign firms in the health sector, in addition to other companies with SoftBank Vision Fund as an investor.

Al-Rumayyan also noted that negotiations are ongoing with Lucid Motors Co. to build an electric vehicle (EV) plant in Saudi Arabia.

On the other hand, he indicated that Saudi Arabia might consider listing more Saudi Aramco shares, in case of a correct valuation, adding that the company is studying a large program to restructure assets.

According to the data compiled by Argaam, Al-Rumayyan recently said that the PIF owns 67% of Lucid Motors Co., with investments amounting to $1.3 billion.