Saudi minister announces formation of National Grain Company

Abdul Rahman Al-Fadhli, Saudi minister of environment, water and agriculture.
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Updated 25 August 2020

Saudi minister announces formation of National Grain Company

  • With an estimated total cost of SR412 million in phase 1, the project aims to meet the future demand for major grains in the Kingdom

RIYADH: Abdul Rahman Al-Fadhli, minister of environment, water and agriculture, sponsored the inauguration ceremony of the National Grain Co., a strategic partnership between the Saudi Agricultural and Livestock Investment Co. (SALIC), and the National Shipping Company of Saudi Arabia (Bahri).

With an estimated total cost of SR412 million ($109.8 million) in phase 1, the project aims to meet the future demand for major grains in the Kingdom. 

The announcement ceremony was held at the headquarters of the Environment Ministry, under the patronage of Al-Fadhli, in the presence of Ahmed Al-Faris, governor of the Saudi Grains Organization, Mohammed Al-Sarhan, chairman of Bahri, Sulaiman Al-Rumaih, CEO of SALIC, and Abdullah Al-Dubaikhi, CEO of Bahri. 

This partnership aims to oversee the trade, handling, and storage of grains between sources in all regions of the Black Sea, Europe, South America, and the Red Sea regions, contributing to the process of import, transportation, distribution, and storage.

The project will start with a capacity of about 3 million tons per year by 2022, to gradually increase to 5 million tons per year. The new terminal, which will be built according to the highest international standards, will enable the rapid handling of grains and fodder. 

Al-Fadhli said: “This company will play a major role in strengthening supply chains in the Kingdom, as it will lead to the building of the largest regional center for grains. The new terminal will enhance food
distribution solutions in the region by importing, processing, exporting, and storing grains to the Kingdom, thanks in part to the strategic location of Yanbu Commercial Port.”  

Al-Sarhan said: “Our work at Bahri balances demand and supply, harnessing big data to efficiently manage and streamline our fleet operations. Today, we are seizing new expansion opportunities in cooperation with economic entities in the Kingdom to diversify our offerings and provide value-added services, in addition to the development of our main business sectors.

“Over the years, we have made great efforts to contribute to national food security by transporting nearly 1.5 million tons of grains annually to the Kingdom through our fleet of five dry-bulk carriers. With the addition of four new carriers before the end of this year, Bahri will be able to transport 5 million tons of dry food and various grains, including barley, corn, wheat, soy, and others, annually, to the Kingdom of Saudi Arabia.”


Dubai’s Al-Habtoor Group to open representative office in Israel

Updated 20 September 2020

Dubai’s Al-Habtoor Group to open representative office in Israel

  • Al-Habtoor and Fogel both welcomed the landmark agreement that was signed on Sept. 15 in the US
  • The tycoon revealed his plans to open a representative office in Israel

DUBAI: Dubai’s Al-Habtoor Group (AHG) plans to open a representative office in Israel its chairman said, following an historic peace deal signed last week between the UAE and Israel to normalize relations.

Khalaf Ahmad Al-Habtoor, who is AHG founding chairman, welcomed Ampa Group’s co-owner, chairman and CEO Shlomi Fogel at the hospitality conglomerate’s Dubai headquarters. Ampa Group deals in real estate, finance and industry. 

Al-Habtoor and Fogel both welcomed the landmark agreement that was signed on Sept. 15 in the US. 

The UAE and Bahrain signed the Abraham Accords in a ceremony overseen by US President Donald Trump. The two Gulf countries join Egypt and Jordan as the only Arab nations to have full relations with Israel.

“I have been looking forward to this day for a very long time,” Al-Habtoor said. “I have always believed that Emiratis and Israelis have a lot in common. Both peoples are business-oriented and have relied on human talent and ambition more than their countries’ natural resources to build robust, innovative economies. The opportunities that this deal will present are great for both sides. I am confident this will open up new doors and lead to stronger economies, and closer cultural ties between the peoples.”

The tycoon revealed his plans to open a representative office in Israel and said that there was a lot of interest in collaboration.

“We have received a large number of inquiries for collaboration in several fields, ranging from AI and technology, to agriculture, hospitality and trading. The possibilities are endless for both sides in our diversified fields and new ones, and we want to be present to grasp them.”

He previously disclosed that AHG had started talks with Israeli domestic carrier Israir Airlines to open direct commercial flights, “and we are preparing to reveal a few collaborations in the coming days.”

Fogel said that peace would be cemented through successful business collaboration and trade. “Together with our Emirati counterparts we will show the way to live in peace to the rest of the world,” he added.

Fogel was accompanied at the meeting by Ampa Group executives, including Erez Katz and Saar Bracha.

AHG was represented at the meeting by Mohammed Al-Habtoor, Ahmad Al-Habtoor, Maan Halabi, Sanjeev Agarwala and other members of senior management.