Saudi Arabian Sovereign Fund to Invest $10 Billion in Brazil
- Saudis interested in 600-mile railroad to Brazil’s far north
- Abu Dhabi’s sovereign fund eyeing Brazil privatization program
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Saudi Arabia’s Public Investment Fund will invest $10 billion in Brazil and plans to use the country as a gateway to the rest of Latin America, the Brazilian government said.
The investment comes after talks between President Jair Bolsonaro and Crown Prince Mohammed Bin Salman, Brazilian Foreign Affairs Minister Ernesto Araujo told reporters in Riyadh on Tuesday.