Saudi Agricultural and Livestock Investment Company (SALIC) and Kingdom’s national shipping carrier Bahri have entered into a partnership to establish National Grains Company.
The partnership which expected to cost $110 million in the first phase is expected to meet Saudi Arabia’s future needs for main grains.
The establishment of the partnership between SALIC and Bahri and the announcement of the name “National Grains Company” had taken place at the headquarters of MEWA in the presence of a number of officials.
The partnership will focus on trade, handling and storage of grains among their sources in all regions. It is also expected to contribute towards the process of import, transportation, distribution and storage.
The project which will start with a capacity of about 3,000,000 tons annually, will increase its volume to 5,000,000 tons gradually. The new terminal, which will be built according to the highest international standards, will enable the rapid handling of grains and fodder by providing the terminal’s logistic services to all importers.
Minister of Environment, Water and Agriculture said that this partnership comes within the framework of implementing SALIC strategy to contribute to achieving food security in Saudi Arabia, within the objectives of Saudi Vision 2030. It will also contribute to the provision of basic food products and price stability in the Kingdom of Saudi Arabia, he added.
