Dhaka, Jan. 7 -- The Public Investment Fund (PIF) announced the signing of an agreement to invest in Saudia Technic, a subsidiary of Saudia Group, formerly known as Saudia Aerospace Engineering Industries.

On the development, Raid Ismail, Co-Head, MENA Direct Investments, PIF, said, "PIF continues to invest in one of the world's most dynamic and rapidly expanding sectors in an increasingly interconnected global economy. The investment in Saudia Technic is a significant milestone as we unlock capabilities, localize expertise and create a first-class, world-leading aviation sector in Saudi."

"This strategic investment by PIF underscores our commitment to becoming a leader in the aviation industry. We are excited to work alongside PIF in s...