The Saudi Agriculture and Livestock Investment Company (SALIC) and the UAE-based Al Dahra agricultural group are partnering to invest US$1.3 billion through a joint venture in grain and livestock across the Black Sea region.
The partnership is being advanced as part of the two country’s food security initiatives, with investments to be made across 10 countries including Ukraine, Russia, Romania, Hungary, Belarus, and Bulgaria.
The Saudi King, Salman bin Adbelaziz, recently met with Russian President Vladimir Putin and agreed to commit to investments worth billions of dollars. Abdullah Aldubaikhi, the prospective CEO of the joint venture between SALIC and Dahra, said that the investments will take the form of farmland, logistics, and storage acquisitions.
Lynda Kiernan is Editor with HighQuest Group Media and of the Oilseed & Grain News. If you would like to submit a contribution for consideration, please contact Ms. Kiernan at email@example.com.