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Article: Kingdom's firms to invest SR 150 million in African farms.
- Article from:
- Pajhwok Afghan News (Kabul, Afghanistan)
- Article date:
- April 2, 2009
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A consortium of Saudi agricultural companies is looking to invest SR 150 million ($40 million) into food production in Africa, the Agriculture Ministry said recently. Food security has topped the policy agenda in the Gulf Arab region following rampant inflation in 2008 that underscored the peninsula's dependence on imports and forced countries to invest abroad to ensure supplies of staples like rice and wheat.
The consortium, called Jenat, was set up to lead farm investments abroad for a group of local companies, the ministry said in a recently published newsletter.
The firms include Tabuk Agricultural Development Co (Tadco), dairy firm Almarai, Food ...