SALIC considers Russian grain investment

Updated 06 October 2017
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SALIC considers Russian grain investment

MOSCOW: Saudi Arabia’s SALIC is considering investing in a Russian grain producer owned by Russian conglomerate Sistema and members of the Louis-Dreyfus family, Sistema said on Thursday.
Saudi Arabia began scaling back its domestic wheat-growing program in 2008, planning to rely completely on imports by 2016 to save water. Russia, one of the world’s top grain exporters, is expected to harvest a record grain crop in 2017.
The Saudi Agriculture and Livestock Investment Company (SALIC) was formed in 2011 to secure food supplies for the kingdom mainly through mass production and foreign investments.
RZ Agro, a joint venture between Sistema and Louis-Dreyfus family members, was created in 2012. It produces grain and has a land bank of 106,000 hectares in Russia’s southern regions.
“The parties will discuss the structure and parameters of the potential deal after the due diligence of RZ Agro Holding Ltd,” Sistema said in a statement.
The memorandum of understanding was one of several signed at the Russian-Saudi Business Investment Forum in Moscow. Saudi Arabia’s King Salman is meeting Russia’s President Vladimir Putin in the Russian capital on Thursday.


Saudi envoy highlights Coalition’s support of humanitarian operations in Yemen

Updated 21 September 2018
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Saudi envoy highlights Coalition’s support of humanitarian operations in Yemen

  • UN official briefd on the plans and projects of the Saudi Development and Reconstruction Program for Yemen

JEDDAH: Mohammed bin Saeed Al-Jaber, Saudi ambassador to Yemen and executive director of the “Isnad” Center for Comprehensive Humanitarian Operations in Yemen, met on Thursday with UN Special Envoy for Yemen Martin Griffiths.

During the meeting, Al-Jaber highlighted Saudi Arabia and the coalition states’ support of humanitarian operations in Yemen in light of violations committed by the Houthi militias.

He also briefed the UN official on the plans and projects of the Saudi Development and Reconstruction Program for Yemen, affirming its support in accordance with three references (Gulf Initiative and its executive mechanism, outputs of the national dialogue and Security Council Resolution 2216).

Griffiths highlighted his efforts with the Iran-backed Houthi militias to return to the negotiating table.

Earlier, Yemeni Vice President Ali Mohsin Saleh met with Griffiths. They discussed the latest developments in the Yemeni arena and efforts for peace there.