The National Grain Company (NGC), a strategic partnership between Saudi Agricultural and Livestock Investment Company (Salic) and Bahri, a global leader in logistics and transportation, has announced the appointment of its first board of directors.
Nasser Abdulrahman Alissa has been elected as the first chairman of the board for a three-year term, while Bahri CEO Engineer Abdullah Aldubaikhi was named the vice-chairman. Fayez Al Asmari and Faisal Almangour were named the new board members at the company's inaugural shareholders' meeting held at the Bahri head office in Riyadh.
The meeting saw the subscribers verifying the full subscription of the National Grain Company’s shares and the fulfilment of the minimum capital, in addition to approving the final provisions of the company’s foundation system.
Welcoming the new board, Aldubaikhi said: “The company will work toward linking Saudi Arabia with grain sources globally, in addition to supporting the transformation of the Kingdom into an international logistics hub serving as the meeting point of the sea routes connecting three continents, in line with Bahri’s long-term strategic vision and the Kingdom’s Vision 2030 objectives."
"Furthermore, the partnership with SALIC is a significant milestone in Bahri’s efforts to cooperate with prominent entities in the country, to further diversify our service offerings and accelerate the growth and development of our business," he added.
Salic CEO Engineer Sulaiman Al Rumaih said: "NGC combines Salic’s objective of achieving over 50% of the import coverage rate for strategic goods with Bahri’s advanced logistics capabilities and innovative services."
"The company will work to ensure that the kingdom is protected against global fluctuations in production, consumption, and stocks of basic food commodities, as well as the changes in commercial shipping trends," noted Al Rumaih.
"This partnership will also actively contribute to Salic’s growth in line with our vision to be a leading global food security company focusing on sustainable agribusiness investment," he added.-TradeArabia News Service