SSIF strategic agricultural project contributes to local food security

The Social Security Investment Fund (SSIF) reaffirmed that its first agricultural project will contribute to covering part of the local consumption needs of strategic agricultural products in line with the Kingdom’s agricultural map.

In a press statement, SSIF said that the project is established in the southern region of the Kingdom on an area of 30sq.km at a total cost of JD13 million, and is managed by Daman Company for Investment and Agricultural Industries, a wholly owned company that was founded by SSIF at the end of 2020.

During a site visit, the investment board members, SSIF managers and the company’s representatives were briefed on the multi-phase project that is managed by the company’s local experts and partnering with local investors, with the goal to invest in feasible projects that also contribute to the national food security and the shift to green economy.

Phase one of the project included developing the project’s infrastructure and planting around eight square kilometers with grains, in addition to animal feeds, that will be harvested by end of this month.

According to the statement, expansion opportunities in food production and manufacturing will be considered on the basis of the results of feasibility studies and the risk levels of those potential investment opportunities and their alignment with SSIF’s investment policy. Cooperation with agricultural research centers will also be considered to create sustainable agricultural systems, develop scientific research and innovation in the sector, it added.