Sunday 11 April 2021 - 5:29:15 am
GCC
2021 Apr 10 Sat, 10:01:51 am

Saudi Arabia's Aramco signs $12.4 billion infrastructure investment deal with EIG-led consortium

DHAHRAN, 10th April, 2021 (WAM) -- Aramco has signed a deal with a consortium led by EIG Global Energy Partners (EIG), one of the world’s leading energy infrastructure investors, to optimise its assets through a lease-and-lease-back agreement involving its stabilised crude oil pipeline network. Upon closing, Aramco will receive upfront proceeds of around US$12.4 billion, further strengthening its balance sheet through one of the largest energy infrastructure deals globally. The transaction represents a continuation of Aramco’s strategy to unlock the potential of its asset base...