Snapshot of the agreement signing
SEDCO Holding, a leading Saudi investment company, and Al Blagha Group (ABG), a Saudi-based group of companies with diversified commercial and investment activities, today announced that SEDCO Holding has acquired a 25% stake in
Tamasuk Holding Company, a wholly owned subsidiary of ABG delivering sustainable and transformative infrastructure projects in Saudi Arabia and the wider MENA region.
The agreement marks SEDCO Holding’s inaugural investment in the infrastructure space in Saudi Arabia, aligning with its strategy to diversify its real assets portfolio across geographies, sectors, and asset classes. Infrastructure investment and development is a priority growth area for SEDCO Holding, driven by Saudi Arabia’s rapid population growth, accelerating urbanization, and the Saudi government’s USD 1.3 trillion infrastructure commitments under Vision 2030.
Tamasuk currently manages a SAR 4 billion portfolio of projects across diversified infrastructure sectors. Through its partnership with SEDCO Holding, it aims to accelerate its growth trajectory, targeting substantial expansion over the coming years.
Eng. Rayyan Nagadi, Chief Executive Officer of SEDCO Holding, commented on the agreement:
“Infrastructure investment is central to enabling Saudi Arabia’s Vision 2030, and we are proud to partner with Al Blagha Group to accelerate Tamasuk’s growth as a national champion with a strong sustainability component. SEDCO Holding’s investment in Tamasuk reflects our long-term commitment to investing in sectors that are vital to the Kingdom’s continued growth, transformation, and diversification. We highly value the support and enabling investment environment offered by the Saudi government, empowering national companies to contribute to achieving Vision 2030 goals.”
Tamasuk’s existing portfolio spans a range of strategic, high-impact projects that form the backbone of national infrastructure. As a diversified infrastructure developer, long-term investor and asset owner-operator, the company’s focus is on social and transportation infrastructure, as well as energy and utilities projects.
Through its subsidiary TOFM (Tamasuk Operations and Facilities Management), Tamasuk also participates in the facilities management, operations, and maintenance of its projects, thereby enhancing long-term service delivery and value for all stakeholders.
Tamasuk’s track record reinforces its role as a trusted developer and partner for procurement authorities, investment partners and project finance banks, and is thus in full alignment with the Kingdom’s ambitious infrastructure development mandate.
Mohammed Al Balwi, Chief Executive Officer of ABG and Chairman of Tamasuk, added in his remarks:
“This partnership with SEDCO Holding is a strategic alignment of goals, built on a shared commitment to growth and an exciting vision for the future. Their investment and expertise will enable Tamasuk to expand its capabilities and reach new heights, delivering greater value to our stakeholders. We are confident that, together, we will grow stronger and achieve greater success."
Matthew Nathan, Chief Executive Officer of Tamasuk, said on the occasion:
“We are excited to welcome SEDCO as a shareholder and partner in Tamasuk. This investment enhances our ability to deliver solutions that meet the Kingdom’s and the region’s infrastructure development plans, and positions Tamasuk as the top-tier partner of choice for government and private stakeholders.”
AI Summary
Comments Analysis: