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.
Saudi National Grain Company appoints new board members
RIYADH, 22 days ago The National Grain Company (NGC), a strategic partnership between Saudi Agricultural and Livestock Investment Company (Salic) and Bahri, a global leader in logistics and transportation, has announced the appointment of its first board of directors. Nasser Abdulrahman Alissa has been elected as the first chairman of the board for a three-year term, while Bahri CEO Engineer Abdullah Aldubaikhi was named the vice-chairman. Fayez Al Asmari and Faisal Almangour were named the new board members at the company s inaugural shareholders meeting held at the Bahri head office in Riyadh. The meeting saw the subscribers verifying the full subscription of the National Grain Company’s shares and the fulfilment of the minimum capital, in addition to approving the final provisions of the company’s foundation system.
Saudi Agricultural and Livestock Investment Company (Salic), which is owned by the Public Investment Fund, has signed an agreement with Brazil’s Minerva Foods to establish a joint venture in Australia for the processing and export of red meat.
Saudi Agricultural and Livestock Investment Company (Salic), which is owned by the Public Investment Fund, has signed an agreement with Brazil’s Minerva Foods to establish a joint venture in Australia for the processing and export of red meat.