Saudi Arabia

SALIC and ALDAHRA enter in a $1.33 bn joint venture agreement

Mergers & Acquisitions

The Saudi Agricultural and Livestock Investment Company (SALIC) from Saudi Arabia and Al Dahra will invest 5 billion riyals (1.33 billion dollars) through a joint venture agreement in the Black Sea region, said Abdullah Aldubaikhi SALIC�s CEO on the sidelines of the UAE-Saudi Business Forum held in Abu-Dhabi, and He added that the investments will be through acquisitions, including agricultural land, logistics, and storage areas.

Posted on Oct 13 ,09:52

The company formed as a result of the joint venture will be mandated to invest in 10 countries throughout the Black Sea region in the grains and livestock sectors.

SALIC announced that the investments would include Russia, Ukraine, Romania, Belarus, Hungary, and Bulgaria.

"We have already begun investing, we will acquire companies and invest in cereals and livestock," said Abdullah Aldubaikhi.

King Salman of Saudi Arabia recently had a historic visit to Moscow, the first official visit of a Saudi sovereign in Russia, with this occasion he made several deals with President Vladimir Putin worth billions of dollars.