Saudi Agricultural and Livestock Investment Company (SALIC), fully owned by the Public Investment Fund, announced the completion of a deal of taking possession of two factories to skin and process red meat in Australia in partnership with Minerva Foods Brazil. SALIC and Minerva Foods merged the two factories through establishing a company named Minerva Foods Australia. SALIC owns 35% of the company whose annual production capacity exceeds one million heads of livestock and targets producing and marketing red meat from sheep to global markets, especially the Gulf and Middle East regions. SALIC CEO Eng. Suleiman Bin Abdulrahman Al-Rumaih stressed that the project is part of SALIC’s contribution to realize the food security strategy of Saudi Arabia through creating a chain of sustainable agricultural investments in various geographical zones around the world, especially that the Kingdom imports more than 70% of its needs of red meat by an annual of 550,000 tons. He also pointed out that establishing the project in Australia is part of a plan to expand SALIC’s investments after fully possessing the Meridian Farms Australia in 2019, which grows cereals and raises livestock. — SPA