Saudi Arabia to set up agricultural firm to manage investments

Saudi Arabia's Ministry of Environment, Water and Agriculture plans to set up a state-owned company to provide agricultural services within six months, Al Eqtisadiah newspaper reported, citing the ministry’s counsel for agricultural affairs Ahmed Al-Eyada.

The new company will also work on investing and renting state-owned land and properties, Al-Eyada added.

The ministry is currently in the process of determining the company’s capital and obtaining regulatory approvals, the counsel said.