Saudi SALIC Eyes Investment Opportunities in Russia
Saudi Arabia's agricultural and livestock investment firm SALIC is studying investment opportunities in Russia but sees more value in helping to market Russian wheat globally, the company's CEO Sulaiman Al-Rumaih said on Friday.
"We are in serious discussions about certain prospects. For us it is the question of time," Al-Rumaih told a grain conference in the city of Sochi in southern Russia, Reuters reported.
Al-Rumaih stressed that Russian supplies account for about 50% of Saudi Arabia's total wheat imports, which showed that Russian firms were very competitive and could, with help from SALIC, boost exports to more Middle Eastern and African markets.
"I think we will be more beneficial (for Russia) as conduits of Russian grain to the global market," he said.
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