Saudi Arabia’s Salic to step up India agri investments
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Last Updated: Mar 05, 2021, 02:13 PM IST
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Synopsis
Salic, wholly-owned by Public Investment Fund, will invest in agricultural projects and livestock production by partnering with governments across “multiple geographic areas”, the company said.
Agencies
The Indian food processing sector ranked number five globally is growing at a CAGR of 12% and expected to reach US $730 billion by FY24.
Saudi Arabia’s Salic, which has 29% minority stake in LT Foods subsidiary Daawat Foods, will step up investments in the Indian agricultural ecosystem, Salic and United Farms Investment Company group chief executive Sulaiman AlRumaih said, during an India visit this week.