SBI and Aramco sign MoU to explore semiconductor investments
Japanese investment group SBI Holdings has formed an alliance with Saudi Arabian energy company Aramco. The partners will seek out opportunities in the semiconductor space.
The two companies say they will combine their mutual knowledge and resources to accelerate into high growth digital sectors. Their targets include financial digital assets and 'specific projects related to investments in the semiconductor field, including establishment of factories in both Japan and Saudi Arabia.'
As part of the MoU, the SBI Group will establish SBI Middle East in Riyadh as a permanent base in the region.
Aramco is one of the world’s largest energy and chemicals companies. It is currently looking to diversify into complementary areas. Meanwhile SBI has a recent history of investment activity in the semiconductor space.
In July, Evertiq reported that SBI would fund a JV with Powerchip to build a new wafer fab in Japan. In October, the two companies and Japan's Miyagi Prefecture confirmed the fab would be located in the Second Northern Sendai Central Industrial Park.
