Eng. Meshary ALALI AlDeheshi – Chairman of the Board of Directors at Rasi Investment Group, and CEO of the Golden Compass Mining Services Company: The acquisition of SABIC’s “Nusaned Fund 2” of a 35% stake in the Golden Compass Company contributes to the promotion of local mining, diversification of the company’s income sources, and diversification of investments in the mining sector, which is an emerging sector in the Kingdom.
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With the aim of investing in the development of the local mining services sector.. Nusaned fund 2 managed by “Al Ahly Capital” signs an agreement to acquire 35% of the “Golden Compass”
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Al Ahli Private Investment Fund Company – “Nusaned Fund 2” – signed an agreement to acquire a 35% stake in the “Golden Compass Mining Services” company, through shares subscription.
Nusaned Investments, an independent investment company wholly owned by SABIC, engaged in the acquisition and development of small and medium-sized companies, is the lead investor and technical advisor in Nusaned Fund II.
The “Golden Compass Mining Services Company”, which is based in Jeddah, provides; Geological and mining consulting services and exploratory drilling of all kinds, in addition to mine operation services and supporting exploration services, with the aim of enhancing settlement and increasing local content.
Nayef Al-Ayed, CEO of Nusaned Investment Company, explained that this investment will contribute to achieving the company’s goals to support and enhance local content by localizing part of the mining services, which supports the objectives of the Kingdom’s Vision 2030 and the National Industry Development Program and Logistics Services, which focuses on transforming the Kingdom into a powerhouse major industrial.
He added that the agreement will greatly diversify the investment portfolio of Nusaned Investment Company by focusing on one of the unique and promising sectors.
On the other hand, Meshary Al-Ali, founder and CEO of Golden Compass Mining Services Company, said that this agreement will help consolidate the company’s presence locally, open doors to regional markets and finance its future growth in the mining sector.