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BlackRock co-led consortium invests USD 15.5bn in Saudi Aramco

A consortium co-led by the world's largest asset manager acquires 49 percent interest in a Saudi natural gas pipeline.

Photo: MOHAMED ALEBN ALSHAIKH/AFP / AFP

A consortium co-led by BlackRock and Hassana Investment Co., the latter controlled by Saudi Arabia's government pension fund, moves to invest USD 15.5bn in Saudi Aramco's gas pipeline infrastructure, taking place after the kingdom opened further to international investment, reports Bloomberg News.

The multi-billion-dollar investment, revealed by the Saudi state-owned oil giant on Monday and meant to finance the country's ambition to boost research in artificial intelligence, electric cars and petroleum production, will leave the consortium holding a 49 percent position in the pipeline asset.

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