Posted on June, 6, 2022 at 10:03 am
The Saudi Grain Organization, or SAGO, has awarded the Saudi Agricultural and Livestock Investment Co., also known as SALIC, a contract to supply 240,000 tons of wheat from abroad to reach the Kingdom’s ports during August to October.
The cargo constitutes the first batch of wheat purchased from Saudis who invested in agricultural assets abroad, according to the Saudi Press Agency.
Governor of SAGO, Ahmad Al-Fares, explained the amount awarded represents 20 percent of the total amount allocated to investors abroad.
Owned by the Public Investment Fund, SALIC was established in 2011 to secure food supplies for the Kingdom.
Source: Arab News