(MENAFN- Edelman) - The move is part of the Institution’s vision to become a leading energy-focused impact fund
- The Institution will focus among other areas on investing in decarbonization and related technologies to support a secure and sustainable energy future for MENA
- New brand identity to be unveiled in the coming months
Riyadh, November 6, 2023 — The Arab Petroleum Investments Corporation (APICORP), an energy-focused multilateral financial institution, announces that it has moved in to its new headquarters in Riyadh.
The move to the capital city, a leading regional financial hub, is part of the Institution’s strategic vision to become a leading energy-focused impact fund, with a mission to enabling a secure and sustainable energy future for the MENA region while contributing to economic prosperity and enabling local communities across the Arab world.
Khalid Ali Al-Ruwaigh, CEO of APICORP, said, "We are immensely pleased to have moved into our new headquarters in Riyadh. Relocating to one of the MENA region’s largest fastest growing financial and commercial centers marks an important milestone in our growth journey. We look forward to building on our nearly 50-year legacy of trust, expertise, and innovation as we chart a new path towards our ambitious vision to become a leading energy-focused impact fund.”
“Guided by our new five-year business strategy, the coming period will see us strengthen our partnerships as we continue to broaden our range of impact-driven innovative financial and investment solutions to unlock new growth opportunities in the energy sector and supporting the regional decarbonization agenda and enabling a secure and sustainable energy future for the MENA region and beyond,” Al-Ruwaigh added.
Fahad Al-Shahrani, Head of Shared Services at APICORP, said, “As an industry leader, moving to Riyadh will bolster our position as a knowledge hub and trusted partner for the energy sector, while at the same time allowing us greater access to world-class talents who we hope will join us in as we write the next chapter of APICORP’s legacy.”
Located in the North Yard project adjacent to the masterlpanned Riyadh North development, the move to the new headquarters follows the approval of APICORP’s
new 2023-2028 business strategy, which will see the Corporation unveil a new brand identity in the coming months.
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ABOUT APICORP
The Arab Petroleum Investments Corporation (APICORP) is an energy-focused multilateral financial institution established in 1974 by the ten Arab oil-exporting countries. APCIORP’s mission is to enable a secure and sustainable energy future for the region through a comprehensive range of financing and direct equity solutions and expert advisory services across the entire energy value chain to leading public and private sector business partners in 25 countries. APICORP applies best-practice ESG principles across all operations, with environmental and socially-linked projects comprising 17.5% of its USD 4.3bn loan portfolio. APICORP is the only energy-focused financial institution in the MENA region rated ‘Aa2’ by Moody’s, ‘AA’ by Fitch and ‘AA-’ by S&P.
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