Saudi Agricultural and Livestock Investment Company (SALIC), an arm of Saudi Arabias state-owned Public Investment Fund, said on Thursday that it had purchased Baladjie, an aggregation of over 200,000 hectares of farmland in Australia. The purchase of Baladjie, which also owns 40,000 merino sheep, in Western Australia’s wheat belt is the company’s first investment in the country and in sheep production, the company said in a statement, Bloomberg reported. "It is our first acquisition in Australia as well as our first investment in sheep production," Chief Executive Officer Matthew Jansen said. The deal “is an important step for SALIC as we continue to build our global footprint in a meaningful way,” Jansen added.