Saturday 28 April 2012
Saudi farm investment
The President of the Chamber of Commerce in Jeddah, Saleh Kamel, has announced that the Sudanese government is going to establish a free zone in which Saudi Arabia will have access to 2 million acres of land for agricultural use.
The land is in an area close to Port Sudan on the Red Sea. The new agreement was reported by the Sudanese Centre for Media Services on Monday.
According to Kamel, once the deal is sealed by both countries' Ministers of Agriculture and Finance, Saudi Arabia will not need to import agricultural produce from countries like Argentina, America and Australia.
"The returns from this agricultural facility in Sudan will reach 15 per cent of the capital investment in the first year," said Kamel.
He said that he regards this to be a better return than any other business sector in the current economic climate.
Source: Argentine Beef Packers S.A.
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