Saudi company explores cooperation with MRCB on Mecca project
The company is a subsidiary of Saudi Arabia’s Public Investment Fund, one of the world’s largest sovereign wealth funds with assets under management exceeding US$900 billion.
Prime Minister Anwar Ibrahim met with a delegation from Saudi Arabia's Public Investment Fund (PIF) led by its governor, Yasir Othman Al-Rumayyan. In a Facebook post, Anwar revealed that RUA AlHaram AlMakki, a wholly-owned subsidiary of PIF, is considering a partnership with Malaysian Resources Corporation Berhad (MRCB) for a transit-oriented development in Mecca's Jabal Al Kaabah area.
As one of the world's largest sovereign wealth funds with assets under management exceeding US$900 billion, the potential collaboration highlights investor confidence in Malaysia's capabilities, opening up opportunities for Malaysian businesses and skilled workers. During the meeting, Anwar and Yasir also discussed strengthening economic cooperation between Malaysia and Saudi Arabia, particularly in the construction, infrastructure, facilities management, energy, and halal sectors.
Anwar expressed hope that more Malaysian companies would enter the Saudi Arabia market and participate in projects that benefit both nations.
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- Saudi company explores cooperation with MRCB on Mecca project freemalaysiatoday.com
