Two state-owned Saudi companies, SALIC and the National Shipping Carrier of Saudi Arabia, have formed a joint commodities venture called National Grains Company. The first phase will focus on the storage, handling, and trade of grains in the region. The venture also plans to be involved in the import, transport, and distribution of grains as well. Eventual capacity should be 5,000,000 tons of grain. It is hoped that the venture will help price stability and also provide better distribution of basic provisions throughout the region. Our experts can answer further questions.
Posted on 15 September 2020