Saudi Ports Authority (Mawani) has signed an agreement with United Feed Company (UFC) to build silos at Jazan and Ras Al Khair ports in the kingdom for handling a total storage capacity of 2.88 million tonnes of grain.
A leading private player in the barley storage and filling market, UFC was founded in 1983 by Al Muhaidib Group and Omar Kassem Al Esayi Marketing Company. The top consumer goods company is based out of Jeddah.
As per the deal, UFC will be setting up a total of 16 silos at Jazan and Ras Al Khair ports to handle a total storage capacity of 240,000 tonnes, said a statement from Mawani.
In addition to this, an entire complex to distribute grains and a packaging facility at an investment of SR370 million ($98.5 million), it stated.
Mawani has already announced investment opportunities in partnership with the private sector to develop and operate multi-purpose terminals in eight of the nation’s ports - covering areas such as general bulk and RoRo cargo, it added.
Copyright 2021 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.