Saudi wealth fund sets up Sawani to boost camel dairy industry

Saudi wealth fund sets up Sawani to boost camel dairy industry

Saudi Arabia’s Public Investment Fund (PIF) has launched a new company, Sawani Company, to advance the growth of the country’s camel farming industry and actively contribute to its sustainable development. Sawani aims to become the biggest producer of camel dairy products to support Saudi Arabia’s wider food and agriculture sector while helping to diversify the economy in line with Vision 2030. The company will partner with players in the private sector to boost the production capacity of the camel dairy industry. It seeks to elevate the standards of the domestic production ecosystem by modernising operations, improving the localisation of knowledge and investing in the sector’s latest technologies. “Saudi Arabia has extensive experience and knowledge of the camel dairy industry and enormous potential to expand its operational capabilities and the wider ecosystem,” said Majed Al-Assaf, PIF’s head of Consumer Goods and Retail in the MENA Investments Division. “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.”​ Saudi Arabia’s wealth fund has invested extensively in the country’s food and agriculture