EIG, Saudi-based Hassana Ink Deal For Middle East Energy Transition Projects

KUALA LUMPUR, Nov 4 (Bernama) -- Institutional investor to the global energy and infrastructure sectors, EIG, and Hassana Investment Company (Hassana), have signed a memorandum of understanding (MoU) to collaborate on infrastructure and energy transition projects in the Middle East.

EIG has established a dedicated regional fund of US$1 billion in which Hassana is considering becoming an anchor investor with an allocation of up to US$250 million. (US$1=RM4.37)

The MoU was signed by EIG Chairman and Chief Executive Officer (CEO), R. Blair Thomas and Hassana CEO, Saad bin Abdulmohsen Al-Fadly.

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Thomas said the company believed 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 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,” he said in a statement.

Meanwhile, Saad: “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.

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The MoU underscores EIG’s 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.

-- BERNAMA