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Saudi Arabia’s PIF to set up camel dairy company
Saudi Arabia’s Public Investment Fund (PIF) is setting up a new company, which it hopes will be the leading producer of camel dairy products, the official Saudi Press Agency (SPA) said on Thursday.
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The PIF announced the establishment of the Sawani Company “to enable the growth of the Saudi camel farming industry and actively contribute to its sustainable development,” SPA said.
“Saudi Arabia has extensive experience and knowledge of the camel dairy industry and enormous potential to expand its operational capabilities and wider ecosystem,” SPA cited Majed al-Assafsaid, head of consumer goods and retail in the MENA investments division at PIF, as saying.
“These factors represent a competitive advantage across the entire supply chain, which, alongside investment, will enable significant growth of the industry, and eventually lead to the export of camel dairy products, which have many nutritional benefits, to regional and global markets,” he added.
Sawani will place sustainability at the center of all stages of production, distribution, and marketing, and raise awareness of the health benefits of camel dairy products among consumers, SPA reported.
Camel milk has high amounts of minerals and vitamins such as vitamins A, B, E and C.
The PIF is investing in the country’s food and agriculture sector to help diversify the Kingdom’s economy as part of its Vision2030.
According to SPA, the PIF has set up 84 companies since 2017.
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