Under the patronage of His Excellency the Minister of Environment, Water and Agriculture of Saudi Arabia, Chairman of the Board of Directors of the Saudi Agricultural and Livestock Investment Company “SALIC”, Eng. Abdulrahman Abdulmohsen AlFadhli, and in the presence of the Chairman of the Board of Directors of SABIC Agri-Nutrients Company, Mr. Yousef Abdullah Albenyan, and a number of officials of the two companies. SABIC Agri-Nutrients Company and the Saudi Agricultural and Livestock Investment Company (SALIC) today, Wednesday, 27/07/2022, signed a memorandum of understanding to enhance cooperation in the food security sector.
The memorandum was signed by the CEO of SALIC Group, Eng. Sulaiman Bin Abdulrahman Al-Rumaih, and the CEO of SABIC Agri-Nutrients Co., Eng. Abdul Rahman Shams Al-Din. The memorandum includes a study of the local and global joint investment opportunities in light of the global challenges facing the food security sector in value chains, fertilizers, logistics, and modern technologies.
His Excellency, the Chairman of the Board of Directors of SALIC, Eng. Abdulrahman Abdulmohsen AlFadhli stressed that food security is witnessing an increasing concern in the world, especially after the (COVID-19) pandemic crisis, which made countries prioritize maintaining their food security, pointing out that the fertilizer industry has become a strategic trend as one of the most important inputs in the agricultural production, as the Kingdom, through its natural resources, endeavoring to be one of the largest exporters of fertilizers in the world. His Excellency added that this memorandum comes within the framework of the integration of Saudi local and international investments, pointing out that the geographically diverse investments of “SALIC” in the agricultural field represent suitable channels for marketing and exporting fertilizers that contribute significantly to ensuring the sustainability of agricultural production in these countries, in line with achieving the food security strategy in the Kingdom.
From his side, Mr. Yousef Abdullah Albenyan, SABIC Vice Chairman and CEO, said that the memorandum of understanding seeks to enhance cooperation between the two companies, emphasizing that SABIC Agri-Nutrients is constantly looking forward to improving efficiencies in cooperation with the leading companies and maintaining its competitive advantage in the international markets. Albenyan explained that the memorandum concluded with SALIC will jointly identify the available opportunities in the field of fertilizers, then prioritizing and implementation, SABIC’s expertise is helping farmers produce higher yields and is playing a vital role in providing secure, reliable food sources.
SABIC Agri-Nutrients Company is considered one of the world’s leading manufacturers of Agri-Nutrients, manufacturing, distribution, and marketing of fertilizers and related specialty products. The company supplies customers worldwide with a wide range of fertilizers, including general fertilizers and highly specialized fertilizers, urea, ammonia, MAP, DAP, phosphate-based fertilizers, and a comprehensive range of nitrogen-based fertilizers inorganic products, and technical solutions.
SALIC is also considered a world leader in the field of agricultural food through investing in countries with comparative advantages in the production of targeted strategic commodities to diversify its sources and a local pioneer in the field of food security. SALIC’s local investments are represented in Almarai, Nadec, Alasmak, and the National Grain Company, while its global investments are in Ukraine, Canada, India, Brazil, Australia, and Britain.