The agribusiness of the Saudi Arabian government continues to purchase assets in Ukraine

The Ukrainian agribusiness “Continental Farmers Group,” owned by the Saudi state fund Salic, has acquired a linear-type elevator complex in the Lviv region. 

The grain storage facility will be used to store grains and oilseeds cultivated by the company, as stated on their website.

The elevator has a single storage capacity of 120,000 tons, of which 77,000 tons are stored in metal silos, and 43,000 tons are stored in prefabricated reinforced concrete silos and warehouses. 

Thus, the total storage capacity of the agribusiness has increased to 634,000 tons. 

“The expansion took place in a region that, considering the significant size of the land bank, was insufficiently covered by its own grain storage facilities: until now, only three small drying and grain complexes of ‘Continental’ with a total capacity of 31,000 tons operated in the Lviv region,” the statement said.

In addition, “Continental Farmers Group” owns elevator facilities in the Ternopil and Ivano-Frankivsk regions.

As reported, in June the agribusiness “Continental Farmers Group,” owned by the Saudi fund Salic UK, received permission to acquire the assets of the Odesa agribusiness DMV Group.

To recall, in 2018, the Saudi fund Salic purchased most of the agricultural assets of the bankrupt agribusiness “Mriya,” including all infrastructure facilities, the machinery fleet, and companies holding the right to lease the land bank.

At that time, the Saudi company already owned a small agribusiness in Ukraine called CFG (Continental Farmers Group). After acquiring “Mriya,” the assets were consolidated under the brand “Continental Farmers Group.”

The combined land bank managed by “Continental” amounted to 195,000 hectares in four regions of Western Ukraine.

Founded in 2011, Salic focuses on ensuring food security for the population of Saudi Arabia and is owned by the Kingdom’s Public Investment Fund.

Mykhailo Orliuk

Ukraine Front Lines

Tags: Business saudi arabia Ukraine