UAE, Saudi firms to invest USD 1.3bn in agriculture in Black Sea region

Saudi Agricultural and Livestock Investment Company (SALIC) along with UAE’s Al Dahra company will be investing 5 billion riyals (USD 1.33 billion) in the Black Sea region in agriculture, chief executive officer of SALIC told reporters in Abu Dhabi on Wednesday, gulfnews.com reports.

“Investment started already. We will be acquiring companies and we will be investing in grains and livestock,” said Abdullah Aldubaikhi during UAE-Saudi Business Forum.

The companies will be investing in ten countries in Black Sea region including Serbia, Ukraine, Bulgaria among others. The two countries are also working to set up a joint venture company, he added.

Al Dahrablack sea regionBulgariagrainsjoint venture companylivestockSALICSaudi Agricultural and Livestock Investment CompanySerbiaUAEUAE-Saudi Business Forumukraine
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