(MENAFN) Saudi Arabia's primary wealth fund plans to invest about UDS1 billion in British billionaire Richard Branson's three commercial space companies, including space tourism firm Virgin Galactic.
The Public Investment Fund of Saudi Arabia and Virgin Group said on Thursday that the money comes as part of a new partnership between the two.
The kingdom's fund also has an option to invest an additional USD480 million in "space services", according to the agreement.
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