Sudan to give Saudi Arabia 20m acres of farming land

MENAFN - - 10/04/2012

http://www.menafn.com/menafn/1093502362/Sudan-to-give-Saudi-Arabia-20m-acres-of-farming-land

(MENAFN) Sudanese government agreed to give Saudi Arabia two million acres of land as a farming investment that would allow the oil-rich Gulf Kingdom to secure steady food supply, Sudan Tribune reported.

The announcement came from the chairman of the Jeddah Chamber of Commerce Saleh Kamel, who said that the project, if successful, would allow Riyadh to achieve a food surplus that can be exported elsewhere. Khartoum will make the farmland a tax-free zone, Kamel added.

Saudi Arabian has been seeking farming investments abroad since the 2007-2008 global food crisis. In 2008, Saudi Arabia gave up a 30-year self-sufficiency in wheat programme.

Saudi Arabia plans to build stocks of basic commodities such as wheat, rice, oil and sugar to avoid the implications of rising global food prices and also to meet the needs of the population that is growing at a rapid pace.

Kamel said that the choice of East Sudan for launching the project is due to its proximity to Port Sudan which allows the products to be easily shipped to Saudi Arabia just across the Red Sea.