RIYADH: The National Agricultural Development Company (NADEC) has announced a new partnership with the United Feed Company, part of Al Muhaidib Group to enhance food security and support the agricultural sector.
The collaboration, endorsed by His Excellency Eng. Abdulrahman bin Abdulmohsen Al-Fadley, Minister of Environment, Water, and Agriculture, aims to establish a specialized limited liability company focused on intensive livestock farming and meat production, particularly sheep and goats.
The agreement, signed on Thursday, 14th March 2024 (04/09/1445 AH), grants NADEC a 51% ownership stake in the new venture. This strategic alliance is set to contribute significantly to the Kingdom of Saudi Arabia’s animal wealth and bolster efforts towards achieving self-sufficiency in food production.
The partnership outlines a series of terms and conditions that will oversee the establishment, management, and operational framework of the new entity. It is expected to pave the way for the development of high-tech farms, ensuring the continuous availability of high-quality local red meat products.
Moreover, the initiative promises to provide a variety of suitable options for consumers, improve the nation’s trade balance, and foster a comprehensive system of agricultural and animal projects through collaborative efforts.
This venture is not just a leap forward in food production; it also promises to generate numerous direct and indirect job opportunities, contributing to the economic growth and sustainability of the Kingdom’s agricultural sector.
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