“The Public Investment Fund has held early-stage talks on combining parts of its sprawling portfolio of ports, rail and shipping assets into a single entity, according to people familiar with the matter. The enlarged firm could potentially evolve into a vehicle for multibillion-dollar investments across the logistics industry, the people said, asking not to be identified because the discussions are confidential.”
“The fund controls or holds stakes in a swathe of firms, including the $8.3 billion National Shipping Company of Saudi Arabia, Saudi Global Ports, which operates ports in the Eastern Province and Riyadh’s dry-port ecosystem, and Saudi Railway Co., whose freight and passenger networks span much of the country.”
“The PIF’s deliberations started before the war began, though talks gained urgency as the conflict continued and the Strait of Hormuz remained shuttered, the people said. Disruptions around the key waterway over the past three months have exposed vulnerabilities in Middle Eastern supply chains, reinforcing the need for alternative trade routes including Saudi Arabia’s Red Sea ports.”
“Should the wealth fund proceed with its plans, the move will potentially add another layer to Saudi Arabia’s economic rivalry with the United Arab Emirates. The UAE hubs of Dubai and Abu Dhabi have for years positioned themselves as gateways to the region.”
“Dubai’s rise was driven in large part by DP World Ltd., a logistics giant that operates in 83 countries and employs more than 119,000 people…”
https://gcaptain.com/saudi-1-trillion-wealth-fund-weighs-creating-a-logistics-giant/