Riyadh – Mubasher: The Saudi Public Investment Fund (PIF), the world’s largest sovereign fund, has acquired a 40% stake in a joint venture (JV) between Saudi Arabian Oil Company (Saudi Aramco) and Jacobs Engineering Group, Bloomberg reported.

The fund acquired 30% of Jasara Program Management Company from Saudi Aramco and 10% of the JV from Jacobs.

It is worth noting that the JV was found in 2017 and it provides management services for social infrastructure projects in Saudi Arabia and across the Middle East and North Africa (MENA).