Saudi-Ukrainian Agricultural and Dairy Investment Plans Unveiled
Saudi Arabia and Ukraine have announced plans for a potential $1 billion investment partnership targeting five strategic sectors. Among these, agriculture and dairy are pivotal, with a focus on enhancing food security and boosting dairy production capabilities in Ukraine.
Yuriy Fedorovych Melnyk, Chief Sustainability Officer at MHP, one of Ukraine's largest agricultural groups, emphasized the importance of this collaboration in his recent statements. MHP is actively working on projects intended to make Saudi Arabia self-sufficient in poultry production, reflecting a comprehensive approach towards agricultural cooperation.
Melnyk revealed that specific projects were discussed at the first meeting of the Joint Business Council between Saudi Arabia and Ukraine in a decade, held in Riyadh on November 24. These projects include localizing the production of food and pharmaceutical products in Saudi Arabia, in addition to agricultural investments in Ukraine.
In the dairy sector, potential cooperation includes establishing a large dairy farm to ensure stable milk supplies for the Ukrainian market. This initiative is part of broader plans to solidify food security and agricultural output.
The agricultural sector's investment initiatives also encompass the development of a massive industrial farm by Epicentr K in western Ukraine, involving oil extraction, bioethanol, and biomethane plants. This project has a total budget of $500 million, with efforts underway to secure additional financing worth $350 million.
The meeting was attended by representatives from over 40 Saudi companies and high-ranking officials from both countries, underscoring the strategic importance of this partnership. The Ukrainian delegation included companies contributing significantly to Ukraine’s GDP and employing over 180,000 people.
This renewed economic dialogue is poised to create long-term investment opportunities, enhance trade, and foster technological cooperation between the two nations.
