Bahri Joins Hands with Saudi Agricultural and Livestock Investment Company
As part of its ambitious growth and development plan, the National Shipping Company of Saudi Arabia (Bahri) has announced the signing of an agreement to establish the National Grain Company.
The Company will be a joint venture (JV) between Bahri and the Saudi Agricultural and Livestock Investment Company (SALIC).
The JV aims to build and establish a terminal for handling grains at Yanbu Commercial Port, seeking to meet the future needs of the Kingdom of Saudi Arabia for major crops and cereals.
The $100 millon project is to start in the second half of 2021 and commercial production expected to commence by the second half of 2022.
The project extends over an area of 313,000 sqm with a storage capacity of 280,000 tonnes. Production capacity of the terminal will range from 3 to 5 million tonnes annually.
Read More: UAE Ends Boycott of Israeli Trade and Goods