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JSG Business Activities with Public Investment Fund

01 11 , 2018

On the afternoon of January 10, 2018, Dr. Wen Haiquan, Chairman of JSG and China consortium, led the company's management team to come to the Saudi Public Investment Fund (PIF) building and visited Mr. Yasir Al-Rumayyan, General manager and director of PIF. The two sides conducted friendly talks. Mr. Yasir first expressed warm welcome to Dr. Wen and his team; then he introduced the country's three key projects and operating mechanisms, namely Future City of NEOM, tourism project from Red Sea to Riyadh and the large-scale DISNEY entertainment project in Riyadh. The special purpose companies have been set up to develop the three projects, while PIF provides financing guarantees, and Dr. Wen is welcomed to participate in with Chinese companies. Subsequently, Dr. Wen expressed the desire of JSG and China consortium to participate in the Saudi national projects and introduced the achievements and vision for the above Saudi national projects, and promised that JSG and China Consortium would have the ability to complete $20 billion of national projects each year on the premise of PIF providing financing guarantees.

 

Mr. Yasir highly appreciated for the desire, ability and strength JSG and China consortium to participate in the construction of Saudi Arabia, and promised to further arrange the interaction between relevant departments and JSG. It is hoped that JSG would participate in Saudi national projects to realize the perfect combination of Saudi’s 2030 Vision and China’s the Belt and Road Initiative, which will create a new historical chapter for the friendship between the peoples of China and Saudi Arabia.