SALIC’s investment portfolio rises to SAR 27B: CEO

Sulaiman Al-Rumaih, CEO of Saudi Agricultural and Livestock Investment Co. (SALIC)

Saudi Agricultural and Livestock Investment Co.’s (SALIC) investment portfolio grew from SAR 5 billion in 2019 to SAR 27 billion at present, CEO Sulaiman Al-Rumaih said, per Al Eqtisadiah Newspaper.

Higher investments and operations expansion came with great support from the Saudi government, the CEO added on the sidelines of SIMEC Expo held in Riyadh.

He indicated that the company invests in 14 international projects in eight different countries. It is working to supply 1.6 million tons of different food commodities to Saudi Arabia annually.

SALIC’s investments include grain, meat, poultry, and rice sectors, Al-Rumaih further stated.

According to Argaam, SALIC was established in 2009 under a royal decree. The company is owned by the Public Investment Fund (PIF) and aims to contribute to achieving the food security strategy in the Kingdom.

The company owns stakes in several companies, including NADEC, Almarai and Ukraine-based agritech company MHP, as well as other investments in Brazil, India, Australia, Singapore and Canada.