São Paulo – The Dubai-based, partly-Saudi holding company KBW should set up headquarters in the Brazilian state of Santa Catarina. The information was released this week by the state government following a meeting between governor Raimundo Colombo and the Saudi price and company chairman Khaled Bin Alwaleed, in the state capital Florianópolis.
"The setting up of a holding company in Santa Catarina will create a command, and that influences decision-making. Apart from this, there are other investments underway, and now we will work to attract them into Santa Catarina. The state is undergoing an expansion phase. This growth is being watched by the whole world,” said the governor according to a news report released on the government’s website.
According to information from Alwaleed’s press office, he is a member of the Saudi royal family, and heir apparent to prince Alwaleed Bin Talal, one of the leading individual investors in the planet, according to Forbes Magazine’s ranking. Aside from chairing KBW, bin Alwaleed either controls or owns stock in 20 other companies around the world.
The holding company is involved in projects amounting to over R$ 1 billion (US$ 454 million) in Brazil, according to the press office. The company should also invest in the states of Espírito Santo and Ceará, in infrastructure, oil and gas, mining, construction and logistics.
“Brazil is an attractive market with a growing demand and great opportunities in infrastructure, oil and construction. Besides, Brazil and Saudi Arabia are establishing closer commercial ties, above all in oil and gas, and this has become more evident over the past few years,” said Khaled according to the press release.
The Saudi company is involved in the PetroCity project, a port complex in the city of São Mateus, in the state of Espírito Santo, alongside Raimondi Cranes, a construction crane manufacturing company in the state of Ceará. KBW also owns a stake in Royal Minerals, a mining company due to begin operating in November this year. KBW is based in Dubai and is a private company.
On his Twitter account, Khaled bade farewell to Brazil, in Portuguese, this Friday (1st) at 6:00 pm and gave thanks to the country, stating that he was met with great hospitality.
*Translated by Gabriel Pomerancblum
