Hassana Investment Company (Hassana) and EIG, a leading institutional investor in the global energy and infrastructure sectors, have signed a memorandum of understanding (MoU) to collaborate on infrastructure and energy transition projects.
According to Industry sources, these projects are slated for the Middle East through EIG’s targeted US$1 billion dedicated regional fund in which Hassana is considering becoming a major investor with an allocation of up to US$250 million.
The MoU was signed by Mr. Saad bin Abdulmohsen Al-Fadly, CEO of Hassana, and Mr. R. Blair Thomas, Chairman and CEO of EIG.
Mr. Al-Fadly stated, “Hassana is pleased to expand our partnership with EIG, a leader in the global energy and infrastructure sectors. 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.”
Mr. Thomas commented, “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 added, “We believe 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 are committed to doing exactly that.”
Abdulaziz Al-Gudaimi, Chairman of EIG’s MENA Operations, stated “Hassana and EIG continue to make a difference in the energy scene of the Middle East. By deploying capital into innovative energy transition projects, we are endeavoring to build a sustainable future, boost the economy, and reinforce the region’s commitment to clean energy solutions for many years to come.”
Industry sources further confirmed that this MoU displays EIG 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.
