Saudi Arabia's PIF plans to invest $15 billion in Brazil, says Brazilian minister

BRF SA

12/06/2024 20:56

RIO DE JANEIRO, June 12 (Reuters) - Saudi Arabia's
Public Investment Fund (PIF) intends to invest some $15 billion
in Brazil, in areas such as green hydrogen, infrastructure and
renewable energy, the South American country's minister for
energy said on Wednesday.
    Alexandre Silveira told journalists at an event in Rio de
Janeiro the plans were shared by PIF during meetings with
Brazilian government officials.
    He did not offer details on when investments would be made.
    PIF did not immediately respond to Reuters requests for
comment outside normal business hours in Saudi Arabia.
    A joint venture of PIF and Saudi Arabian Mining Company
 1211.SE  concluded in April the acquisition of 10% of Brazilian
miner Vale's  VALE3.SA  base metals unit. 
    A subsidiary of PIF also has a joint venture with Brazilian
chicken and pork processor BRF  BRFS3.SA  to make poultry
products in Saudi Arabia.

 (Reporting by Rodrigo Viga Gaier in Rio de Janeiro; additional
reporting and writing by Andre Romani in Sao Paulo; Editing by
Nick Zieminski)
 ((Andre.Romani@thomsonreuters.com; 11 991314109;11 56447500;))