DUBAI: Saudi Agricultural and Livestock Investment Company (SALIC), an arm of Ƶ’s state-owned Public Investment Fund, said on Thursday it has made its first acquisition in Australia.
SALIC did not give a figure for the purchase of Baladjie Pty Ltd, an aggregation of over 200,000 hectares (494,200 acres) of farmland in Western Australia’s wheatbelt that also carries 40,000 head of Merino sheep.
“It is our first acquisition in Australia as well as our first investment in sheep production,” Matthew Jansen, SALIC CEO said in a statement.
Ƶ began scaling back its domestic wheat growing program in 2008, planning to rely completely on imports by 2016 to save water.
SALIC’s agricultural investments include farmland, grain silos and terminals, as part of Ƶ’s food security drive.
