Saudi Grain Organization (SAGO), awarded the Saudi Agricultural and Livestock Investment Co. (SALIC) a contract for the import of 240,000 tons of wheat from abroad to reach Saudi ports during August to October.
The cargo, according to the Saudi Press Agency, constitutes the first batch of wheat purchased from Saudis who invested in agricultural assets abroad.
The amount awarded represents 20 percent of the total allocated to investors abroad, Governor of SAGO, Ahmad Al-Fare said.Â
The SALIC, owned by the Public Investment Fund, was established in 2011 to secure food supplies for the Kingdom.