Saudi's Tabuk signs deals for food investment abroad
- Reuters
- 23 May 2009
Saudi agricultural company Tabuk Agricultural Development Co has started preparations to invest in food production abroad, driving up its stock.
Saudi agricultural company Tabuk Agricultural Development Co has started preparations to invest in food production abroad, driving up its stock.
Al Rajhi for International Investment will spend an estimated $400 million by 2011 to produce wheat and maize in Egypt and Sudan. The Saudi private firm is already farming 42,000 hectares of farmland in Egypt this year.
Down on the farm, Saudi Arabia has a $9.8bn hole to fill
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