SAGIA inks $200mln protocol with Danish, Saudi companies

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Riyadh: Saudi Arabian General Investment Authority (SAGIA) has signed a $200 million memorandum of understanding (MoU) with Danish biotechnology firm Unibio and Saudi Arabia’s Edhafat.

Under the MoU, Unibio will develop a facility in Saudi Arabia that will utilise the company’s Unibio, using natural gas, according to a statement.

“With a growing population, this project represents an important step towards achieving food security for the Kingdom by providing a sustainable and economically viable source of animal feed products,” governor of SAGIA, Ibrahim Al Omar, said.

“We are very pleased to sign an MOU with an important governmental organization such as SAGIA as well as partnering up with Edhafat and other local stakeholders in our effort to participate in the development on the Saudi Arabian economy,” CEO of Unibio, Henrik Busch-Larsen, commented.

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