AlRumaih: “SALIC” is a sustainable investment portfolio in the field of food security.
The CEO of The Saudi Agricultural and Livestock Investment Co “SALIC”, His Excellency Eng. Sulaiman bin Abdulrahman AlRumaih, confirmed that the Public Investment Fund’s announcement of transferring its shares in each of the “Almarai, NADEC and Saudi Fisheries companies to the portfolio of “SALIC” will enhance its role as the fund’s investment arm for agriculture and food security by achieving integration within the fund’s related portfolio companies.
AlRumaih added that the transfers enable SALIC to further optimally the Kingdom’s agricultural production and food processing opportunities by unifying local shareholdings under one umbrella to create a sustainable investment portfolio capable of effectively contributing to securing the Kingdom’s food security. This development adds domestic investment to SALIC’s international assets to create a series of sustainable agricultural investments in multiple geographic regions around the world.
The CEO of SALIC explained that the institutional work of the food security system, with the generous support of the wise leadership, contributed to resisting the Corona pandemic and revealed the importance of strategic integration between sectors related to agricultural and food affairs. During the pandemic, SALIC was able to contribute through its foreign investments to supply basic food commodities and maintaining the stability of their prices in the local market, pointing out that “SALIC” is moving forward to effectively contribute to the food security system, as it has been awarded a contract to supply 355 thousand tons of wheat through its investments in Ukraine, Canada and Australia, as part of the direction of supporting Saudi investors abroad as one of the Kingdom’s food security strategy programs, which aim to diversify and increase sources of external food supplies.
It is noteworthy that the “SALIC” company was established by royal decree in 2009 and is wholly owned by the Public Investment Fund. It started its investment operations in 2012 with many international companies in the field of agriculture and the trade of grains, rice and meat in Ukraine, Canada, India, Brazil, Australia, and United Kingdom, and at the local level. SALIC established the National Grain Company in a strategic partnership with the Bahri Company to establish a grain handling terminal at Yanbu Commercial Port. “SALIC” aims to expand local and international investments and work to raise the operational efficiency of its existing investments and develop its relations with leading international companies in the same field.