Arab and international Monday , 22 May 2017
The Blackstone Group has signed the American giant in the field of asset management and the Saudi Public Investment Fund Memorandum of Understanding to launch a new investment mechanism worth $ 40 billion to finance the modernization of infrastructure projects in the United States.
She explained in a statement seen by Blackstone, the "Sky Press," that the Saudi sovereign fund will contribute to this new investment mechanism of $ 20 billion, while the remaining will be financed 20 billion of "other investors".
The statement did not specify any timetable for the implementation phases of this note, except to point out that this new investment fund is supposed to be able to eventually invest up to $ 100 billion in infrastructure projects in the United States, "basically."
The head of Blackstone Hamilton James said that "there is a consensus on a very broad idea that the United States urgently need to invest in infrastructure that become obsolete too quickly."
Experts estimate that every American family bears annually to $ 3,400 to finance infrastructure projects in the United States (roads, airports, railways ..).
President Donald Trump has asked Congress to approve the investment of a thousand dollars for the implementation of the policy of major projects in the United States.
Said Saudi Foreign Minister Adel al-Jubeir that the value of the agreements signed by the Kingdom with the United States Saturday amounted to more than $ 380 billion.