Saudi, Japan JV taking care of Jeddah wastewater
Posted by Arab News
Shaheen Nazar | Arab News
Sunday 3 January 2010
JEDDAH: The wastewater treatment plant that was built last year near the Musk Lake in the east of Jeddah is operating smoothly, treating up to 15,000 cubic meters of water per day (m3/day).
The 60,000-m3/day-capacity plant has “the ability to dry up the lake in one year,” said Nizar Kammourie, chief executive officer of Suido Kiko Middle East, a joint venture between Saudi Brothers Commercial Company and Suido Kiko Kaisha of Japan.
In light of negative rumors about the lake following November’s floods, Kammourie’s statement lends weight to the Jeddah Municipality reassurances that the lake is safe.
Suido Kiko Middle East is working on two other projects in Jeddah that will be ready for operation this year. The first is Al-Khomrah wastewater treatment plant, which will receive industrial waste as well as domestic waste. The second project is a seawater desalination plant on the shores of the Red Sea in south Jeddah. The plant near the Musk Lake has been built under a contract with the Jeddah Municipality. It applies the most advanced sewage water treatment technology called MBR (membrane bio-reactor). This is said to be the largest facility of its kind in the entire Middle East. Kammourie said the Japanese technology is capable of treating sewage water to the point of making it “almost drinkable.”
On a visit to the plant, Kammourie displayed the treated water in a glass claiming it is consumable, adding that it requires one more stage of treatment called reverse osmosis (RO) if needed on a commercial basis. He said his company would increase its capacity gradually as and when the municipality wants them to do. So far, the plant is not taking sewage water from the lake and only concentrating on sewage brought from Jeddah everyday by trucks. “We have proposed to the municipality to link our plant with the Musk Lake. Given the opportunity, we have the ability to dry up the lake in one year,” he said.
The contract between Suido Kiko Middle East and the Jeddah Municipality is only for the daily supply of sewage water. Kammourie said his company has set strict parameters to accept truckloads. Among the parameters are PH, TDS, color and smell. This is to ensure that no industrial waste is mixed with domestic waste.
The company has trained Saudis to handle the sophisticated machines installed on the plant. The site also has Japanese experts, besides the usual work force from Asian countries. The treated water is collected in a pond and so the municipality has laid a pipeline to take the water to the eastern forest for irrigation.
Work on the other water treatment plant at Al-Khomrah in the south of Jeddah is in progress. According to Kammourie, it will be ready by July this year. It will have a capacity to treat 25,000 m3/day of industrial waste and 25,000 m3/day of domestic waste. The recycled water can be used for irrigation as well as agricultural purposes. Even the factories which would supply the wastewater themselves can use it. But it is for the municipality to decide what to do of this water. “If no one takes this water it can be disposed of in sea. It’s safe,” said Kammourie. But, he said, the ultimate decision about the use of recycled water lies with the National Water Company, an autonomous body formed by the Ministry of Water and Electricity. Launched in 2008, it is mandated to oversee water treatment and water supply in the Kingdom.
The desalination of seawater is another important area of water management in the Kingdom. This is the responsibility of the Saudi Water and Electricity Company (SWEC).
Suido Kiko Middle East is working on another ambitious project for the desalination of seawater in Jeddah. Known as South Jeddah Corniche (SOJECO), the plant is scheduled to be ready by the fourth quarter of 2010. It will supply water to the upcoming Jeddah Industrial City Phase II. It will also cater to the needs of Al-Khomrah area, which is 10 km from the plant. While the facility is being built by the Saudi-Japanese joint venture, it will be run by SAWACO, a private company involved in desalinating seawater and supplying to consumers in and around Jeddah. It is owned by Saudi Brothers, the local partner of Suido Kiko. SOJECO as well as the wastewater treatment plants in Al-Khomrah and east Jeddah are based on Japanese technology. “You can see very noticeable Japanese elements in all of our projects. We have a joint venture with them. But this apart, they have good engineering and they have good equipment. In MBR, Japan is the world leader. With regards to anything to do with membrane filtration, the Japanese are ahead. They have a distinctive advantage whether it is UF, MF, RO or MBR,” Kammourie said.
Besides Jeddah, Suido Kiko Middle East has its plants in Qatif and Ras Tanura while it is also working on projects in Najran and Taif. It is running a plant in the Asab oil field in Abu Dhabi as well.
The transfer of Japanese technology to Saudi Arabia is coordinated by Japan Water Desk, the Jeddah branch of Japan Water Cooperation Center for the Middle East (JCCME), a non-profit organization of Japan’s Ministry of Economy, Trade and Industry.
According to Kyoji Nakano, representative of Japan Water Desk, his organization assists Japanese companies in transferring their technologies to the Kingdom and encouraging Japanese companies to invest in the Kingdom in the field of desalination, wastewater treatment, recycle of treated water and other fields of business.
News Link: Arab News
Saturday, January 02, 2010
Friday, January 01, 2010
Investors eyeing Q4 results of listed firms
Posted by Arab News
Abdul Jalil Mustafa | Arab News
Saturday 2 January 2010
JEDDAH/AMMAN: Saudi shares came under selling pressures last week amid expectations of retreating profits, particularly for the banking sector.
The Tadawul All-Share Index (TASI) shed nearly 2 percent last week, closing at 6,121.76 points, which represented a 27.5 percent rise since the beginning of 2009, according to the weekly report of the Riyadh-based Bakheet Investment Group (BIG).
The retreat was aggravated by statistics published last week by the Saudi Arabian Monetary Agency (SAMA), which predicted a 20 percent decline in banks' profits in November compared with those for October, the report said.
The BIG expected the Saudi market to be the scene for "narrow fluctuations" next week with investors eyeing the results of listed firms for the fourth quarter of 2009.
Last week, the Capital Market Authority (CMA) announced the final decisions of the Committee for the Settlement of Securities Disputes against investors. The CMA has imposed sanctions on five people for insider trading and stock price manipulation.
Jazan Development Co. was the top gainer last week as its shares surged over 3 percent to SR13.45. Shares in Mouwasat Medical Services Co. rose by 2.51 percent to SR61.25, National Agriculture Marketing Co. by 2.15 percent to SR42.80, Jarir Marketing Co. by 2.10 percent to SR133.75 and Fawaz Alhokair Co. by 1.65 percent to SR36.90.
The major losers last week were Al-Sagr Cooperation Co., down 15.08 percent, Anaam International Holding Group Co. (10.78 percent), Saudi Pharmaceutical Industr. & Medical Appliances Corp. (9.06 percent), Al-Rajhi Company for Cooperative Insurance (7.53 percent) and Allied Cooperative Insurance Group (7.30 percent).
Saudi Basic Industries Corp. (SABIC) shares dropped slightly to SR82.50 last week.
The value of Saudi traded shares increased to SR13.95 billion last week from SR12.57 billion in the previous week.
Arab stock markets are expected to focus attention early in the new year on the annual results of listed firms which are expected to start going out next week, financial analysts said Friday.
"Regional stocks are expected to move sideways in the coming period as investors are apparently concerned over the 2009 results," an Amman-based portfolio manager said.
"We believe that annual profits will represent the main moving factor for Arab markets in the coming couple of weeks," he said.
"However, developments on global markets, clues to world recovery and oil prices will continue to be key elements to reckon with," he added.
Jordanian shares were narrowly volatile last week with persistent lack of liquidity and weak foreign buying, analysts said.
The all-share price index of the Amman Stock Exchange closed week flat at 2,534 points, according to the ASE weekly report.
Kuwait's KSE all-share price index shed 0.7 percent last week, closing at 7,005 points.
The all-share index of the Dubai stock exchange went up by 2.6 percent last week to close at 1,804 points, while the Abu Dhabi bourse gained 2.8 percent to close week at 2,774 points.
The UAE stocks gained only 10 percent throughout 2009 retreating from a 50 percent rise in June. "It was the most volatile year in the country's stocks history," said Walid Khatib, head of trading at the Dubai-based Daman brokerage firm.
He expected UAE and other regional markets to be responsive to developments relating to the Dubai World debt rescheduling moves and other regional events in the coming weeks.
Egypt's AGX30 index, measuring performance of the market's 30 most active stocks, lost 2.7 percent last week to close at 6,209 points.
The GulfBase GCC Index fell 0.89 percent to 3,726.06 points last week. The value of GCC traded shares, however, surged by 10.57 percent to $5.79 billion and volume increased by 1.08 percent to 3.76 billion of shares.
News Link: Arab News
Posted by Arab News
Abdul Jalil Mustafa | Arab News
Saturday 2 January 2010
JEDDAH/AMMAN: Saudi shares came under selling pressures last week amid expectations of retreating profits, particularly for the banking sector.
The Tadawul All-Share Index (TASI) shed nearly 2 percent last week, closing at 6,121.76 points, which represented a 27.5 percent rise since the beginning of 2009, according to the weekly report of the Riyadh-based Bakheet Investment Group (BIG).
The retreat was aggravated by statistics published last week by the Saudi Arabian Monetary Agency (SAMA), which predicted a 20 percent decline in banks' profits in November compared with those for October, the report said.
The BIG expected the Saudi market to be the scene for "narrow fluctuations" next week with investors eyeing the results of listed firms for the fourth quarter of 2009.
Last week, the Capital Market Authority (CMA) announced the final decisions of the Committee for the Settlement of Securities Disputes against investors. The CMA has imposed sanctions on five people for insider trading and stock price manipulation.
Jazan Development Co. was the top gainer last week as its shares surged over 3 percent to SR13.45. Shares in Mouwasat Medical Services Co. rose by 2.51 percent to SR61.25, National Agriculture Marketing Co. by 2.15 percent to SR42.80, Jarir Marketing Co. by 2.10 percent to SR133.75 and Fawaz Alhokair Co. by 1.65 percent to SR36.90.
The major losers last week were Al-Sagr Cooperation Co., down 15.08 percent, Anaam International Holding Group Co. (10.78 percent), Saudi Pharmaceutical Industr. & Medical Appliances Corp. (9.06 percent), Al-Rajhi Company for Cooperative Insurance (7.53 percent) and Allied Cooperative Insurance Group (7.30 percent).
Saudi Basic Industries Corp. (SABIC) shares dropped slightly to SR82.50 last week.
The value of Saudi traded shares increased to SR13.95 billion last week from SR12.57 billion in the previous week.
Arab stock markets are expected to focus attention early in the new year on the annual results of listed firms which are expected to start going out next week, financial analysts said Friday.
"Regional stocks are expected to move sideways in the coming period as investors are apparently concerned over the 2009 results," an Amman-based portfolio manager said.
"We believe that annual profits will represent the main moving factor for Arab markets in the coming couple of weeks," he said.
"However, developments on global markets, clues to world recovery and oil prices will continue to be key elements to reckon with," he added.
Jordanian shares were narrowly volatile last week with persistent lack of liquidity and weak foreign buying, analysts said.
The all-share price index of the Amman Stock Exchange closed week flat at 2,534 points, according to the ASE weekly report.
Kuwait's KSE all-share price index shed 0.7 percent last week, closing at 7,005 points.
The all-share index of the Dubai stock exchange went up by 2.6 percent last week to close at 1,804 points, while the Abu Dhabi bourse gained 2.8 percent to close week at 2,774 points.
The UAE stocks gained only 10 percent throughout 2009 retreating from a 50 percent rise in June. "It was the most volatile year in the country's stocks history," said Walid Khatib, head of trading at the Dubai-based Daman brokerage firm.
He expected UAE and other regional markets to be responsive to developments relating to the Dubai World debt rescheduling moves and other regional events in the coming weeks.
Egypt's AGX30 index, measuring performance of the market's 30 most active stocks, lost 2.7 percent last week to close at 6,209 points.
The GulfBase GCC Index fell 0.89 percent to 3,726.06 points last week. The value of GCC traded shares, however, surged by 10.57 percent to $5.79 billion and volume increased by 1.08 percent to 3.76 billion of shares.
News Link: Arab News
Wednesday, December 30, 2009
Egypt is largest and most authentic consumer society in Arab World
Posted by BI-ME eNewsletter
Source: BI-ME , Author: BI-ME staff
Source: BI-ME , Author: BI-ME staff
Posted: Wed December 30, 2009 11:26 am
EGYPT. With the sheer size of its population, Egypt has been recognised as the largest and a truly authentic consumer society in the Arab World, creating the kind of environment wherein competition thrives and consumers have a real choice.
The same competitive environment also serves as an ideal breeding ground for developing world-class brands, especially since the Egyptian market has thousands of brands that are only waiting to stand out, according to the brand expert BrandCentral.
Although it is already a highly self-sufficient economy, Egypt can further enhance its overall economic performance by helping local manufacturers and business organisations cultivate brand loyalty among the country's millions of consumers, which will help create powerful local brands that can compete internationally and reduce the Egyptians' reliance on international brands.
"Egypt has always been the focus of most industries as it is the largest, real consumer society in the Arabic speaking world. It is one of the oldest economies too.
The one thing that is still missing in Egypt is a culture of branding within the local business community. Brand loyalty is not yet well established in Egypt, which is why Egyptian consumers are loyal to very few local brands that enhance Egypt's image.
In reality, there are thousands of brands in the market that are waiting to shine," says Ibrahim Lahoud, Director of Strategy and Brand Communication, BrandCentral.
Egypt's consumer market is dependent largely on price or on various benefits being offered by certain products, which is, strictly speaking, not brand loyalty, BrandCentral explains.
In this system, clients can easily shift allegiance to a new brand if the competition offers a better price or a new product. Nonetheless, BrandCentral points out that it expects a gradual paradigm shift as Egyptian businesses are now increasingly appreciating the long-term, strategic value of branding.
"Based on our experience, there are several businesses that are pushing for reforms in their branding strategies. Somehow, the market is realising how important branding is, not just as a visual manifestation, but mostly as the expression of the business organisation's soul and philosophy, and as a powerful instrument to get closer to the consumer's heart," says Lahoud.
"BrandCentral's work with various local business organisations has achieved tremendously positive results. As a brand consultancy and design communication firm, our goal has always been to help local businesses create brands that are truly relevant, emotional, perennial and act as vehicles for values and attributes that their businesses stand for.
Furthermore, our clients appreciate the fact that we are an Arab company that identifies with and understands the Arab market. We are here because BrandCentral truly believes in the long-term potential of the Egyptian market," added Lahoud.
BrandCentral also pointed out that the value of branding becomes even more apparent in the aftermath of the global economic recession, as consumer spending trends now favour the more reliable, tested and proven brands that give greater value for money.
"Smart marketers know that in order to make money, they have to spend money. Where do they spend that money? The answer is branding.
If brands that are currently suffering from the depression had been thoroughly developed much earlier, they would have certainly enjoyed a huge competitive advantage during the economic squeeze.
The fact is that in bad times, nobody spends on trial and error; instead, we consumers spend on reliable, tested and proven brands. This illustrates why creating wonderful, memorable and visible brands must be a top priority for any business entity whether it is during a boom time or a downturn," concluded Lahoud.
News Link : BI-ME eNewsletter
Middle East IPO deal values in 2009 are one-sixth of 2008, says Ernst & Young
Source: BI-ME , Author: BI-ME staff
Posted: Tue December 29, 2009 1:56 pm
INTERNATIONAL. Reflecting the general state of the regional IPO market, the year-end IPO update by Ernst & Young states that total regional IPO deal values in all of 2009 came in at approximately one-sixth the value of all IPOs in 2008.
Middle Eastern markets raised US$2.06 billion from 15 IPOs until 25 November this year as compared to US$12.46 billion in all of 2008.
Fourth in the region dominated by the insurance sector
Of the four regional IPOs between October and November of 2009, three were Saudi Arabian insurance companies and one bank in Syria.
Syria’s Albaraka Bank was the biggest IPO raising US$37.23 million followed by Saudi Arabia’s Gulf General Cooperative Insurance Company (Al Khaleej Insurance) at US$21.3 million.
Al Alamiya Cooperative Insurance Company and Buruj Cooperative Insurance Company, both from Saudi Arabia, raised US$16 million and US$13.87 million, respectively.
According to Phil Gandier, Managing Partner, Transaction Advisory Services, Ernst & Young Middle East, “In 2009 IPO activity was concentrated in three countries; Qatar raised US$952.03 million, Saudi Arabia raised US$1.03 billion and Syria raised US$76.99 million in 2009.
There has been no IPO activity in any other country in the Middle East in 2009. It is difficult to foresee with any certainty when the IPO activity will pick up even though as many as 114 IPOs have been announced.”
Asia and South America drives growth
Globally, after stagnant markets in the first two quarters, IPO activity started to pick-up in the second half of 2009, principally driven by deals from Asia and South America.
These two regions have raised US$68.6 billion in listings so far in 2009 accounting for 72% of the total IPO value, according to the update.
The number of deals for the 11 months is dramatically down in 2009, with only 459 IPOs listing so far in 2009 (compared to 740 deals for the same time period in 2008).
However, from 1 January to 30 November 2009, the capital raised globally was US$94.9 billion, which is at parity with the amount raised in the 11 months of 2008 (US$94.6 billion).
Gregory K. Ericksen, Global Vice Chair Strategic Growth Markets for Ernst & Young says: “Emerging market activity has dominated IPO markets this year with Chinese companies the largest source of total funds raised globally.
Brazil’s stock market has seen a flurry of activity, notably in financial services. China and Brazil are clearly playing an integral role in leading the global economic recovery.”
Capital shifts accentuated by the recession
IPO activity in North America declined in value by nearly 38%, from US$26.6 billion in the 11 months in 2008 to US$16.6 billion with 66 IPO listed so far this year. European IPOs only accounted for 10% of total IPO deals and a modest US$5.0 billion in value.
This compares with 22% of total value of IPO deals last year, with 160 IPOs raising US$13.6 billion. However, we did see some significant activity in the US in the second half of 2009 and finally in Europe in fourth quarter with some high profile listings received well by the market.
IPOs by sectors and stock exchanges
The leading sectors by number of deals were industrials (77 IPOs); materials (68); and high technology (55). The following three sectors (out of 12) accounted for 50% of total capital raised: financials (US$21.7 billion), industrials (US$16.1 billion) and real estate (US$9.5 billion).
The top three IPOs by capital raised were Banco Santander Brazil SA, the largest IPO this year and the largest in Brazilian history, which raised US$7.5 billion, China State Construction Engineering Corp, which listed in Shanghai in July at US$7.3billion, Metallurgical Corp of China (US$5.2 billion on the Shanghai and Hong Kong stock exchanges). Of the top 10 IPOs, six are from emerging markets.
By funds raised, the top three exchanges for the year to date are the Hong Kong Stock Exchange, which accounted for 18.7% of capital raised (US$17.7 billion); New York Stock Exchange 17.9% (US$16.9 billion) and Shanghai Stock exchange for 17.0% (US$16.1 billion).
The top three exchanges by deal activity are the Shenzhen stock exchange (73 IPOs); Hong Kong Stock Exchange (47) and KOSDAQ stock exchange (46).
Ericksen concludes, “Dynamic companies from emerging markets continue to list on their local stock exchanges. The principal exchanges in China, India, Brazil and other emerging markets are now mature enough to source funding for the very largest companies seeking listings.”
News Link: The BI-ME eNewsletter
Tuesday, December 29, 2009
Saudi Arabia market for U.S. wheat
Posted by Western Farm Press
Dec 29, 2009 9:23 AM
U.S. Wheat Associates (USW) recently conducted a seminar in Riyadh, Saudi Arabia, to introduce U.S. wheat and the U.S. marketing system to the Saudi Arabian wheat buying organization, Grain Silos and Flour Mills Organization (GSFMO).
Conducted in cooperation with local USDA/Foreign Agricultural Service and State Department officials, the seminar was the first ever held exclusively with this new international wheat buyer, and was designed to build confidence in U.S. wheat crop quality, handling, and commercial reliability.
The Kingdom of Saudi Arabia has decided to end domestic wheat production by 2016 and may eventually need to import more than 2.5 million metric tons (91 million bushels) of wheat per year.
“Competition for this market is intense,” said Dick Prior, USW regional vice president, Cairo, Egypt.
“The Canadian Wheat Board monopoly is allowing select traders to offer comparable quality Canadian wheat at delivered prices well below what our exporters can offer so establishing the value of U.S. wheat with GSFMO is critical,” Prior said.
“As of Dec. 17, Saudi Arabia had purchased almost 60,000 metric tons (2.2 million bushels) of U.S. hard red winter wheat in marketing year 2009/10 (June-May).
Prior said the seminar was a full year in planning. With perseverance from the USW Cairo staff and strong personal support from GSFMO Director General Waleed Khureiji and U.S. Ambassador to Saudi Arabia James Smith, about 20 GSFMO staff and Saudi authorities met at the GSFMO offices in Riyadh in late November.
USW is the industry’s market development organization working in more than 100 countries on behalf of America's wheat producers. The activities of USW are made possible by producer check-off dollars managed by 19 state wheat commissions and through cost-share funding provided by USDA’s Foreign Agricultural Service.
For more information, visit www.uswheat.org
News Link: Western Farm Press
Posted by Western Farm Press
Dec 29, 2009 9:23 AM
U.S. Wheat Associates (USW) recently conducted a seminar in Riyadh, Saudi Arabia, to introduce U.S. wheat and the U.S. marketing system to the Saudi Arabian wheat buying organization, Grain Silos and Flour Mills Organization (GSFMO).
Conducted in cooperation with local USDA/Foreign Agricultural Service and State Department officials, the seminar was the first ever held exclusively with this new international wheat buyer, and was designed to build confidence in U.S. wheat crop quality, handling, and commercial reliability.
The Kingdom of Saudi Arabia has decided to end domestic wheat production by 2016 and may eventually need to import more than 2.5 million metric tons (91 million bushels) of wheat per year.
“Competition for this market is intense,” said Dick Prior, USW regional vice president, Cairo, Egypt.
“The Canadian Wheat Board monopoly is allowing select traders to offer comparable quality Canadian wheat at delivered prices well below what our exporters can offer so establishing the value of U.S. wheat with GSFMO is critical,” Prior said.
“As of Dec. 17, Saudi Arabia had purchased almost 60,000 metric tons (2.2 million bushels) of U.S. hard red winter wheat in marketing year 2009/10 (June-May).
Prior said the seminar was a full year in planning. With perseverance from the USW Cairo staff and strong personal support from GSFMO Director General Waleed Khureiji and U.S. Ambassador to Saudi Arabia James Smith, about 20 GSFMO staff and Saudi authorities met at the GSFMO offices in Riyadh in late November.
USW is the industry’s market development organization working in more than 100 countries on behalf of America's wheat producers. The activities of USW are made possible by producer check-off dollars managed by 19 state wheat commissions and through cost-share funding provided by USDA’s Foreign Agricultural Service.
For more information, visit www.uswheat.org
News Link: Western Farm Press
Thursday, December 25, 2008
Egyptian agriculture: Incentives, obstacles
tfrasheed@goldengrass.com
http://www.saudiinfocus.com
Egypt has an abundance of fertile agricultural lands and plenty of irrigation waters (Nile River, streams, rain waters and underground waters). The weather is favorable for the natural growth of various plants and different kinds of agricultural products (farm and horticulture).
However, the dependence on manual cultivation and the failure of the government and private agricultural projects reveal some fundamental flaws and problems:
• Nonuse of pivotal sprays and nonexploitation of underground waters for irrigation of plants in case of shortage of rainfall and during dry season.
• Absence of full mechanization in cultivation, fertilization, insecticides, harvesting, peeling, cleaning and packing
• Lack of a plan for improvement of seeds and nonintroduction of improved varieties of seeds.
There are also pessimistic forecasts. A report issued by the US Agriculture Department revealed that Egypt will have a problem importing wheat in 2016, when Saudi Arabia will finally stop wheat cultivation and rely on imports for its wheat requirements.
In the meantime, an Egyptian government report says that “water security” is under threat due to the increase in population.
The 55.5 billion cubic meter quota for Egypt from Nile waters in addition to the implemented water projects at a cost of 35 billion pounds in the past years will not prevent shortage of irrigation water by 2030 if the increase in population continues at the current rate.
One of the best solutions will be to establish a large stock agricultural company owned by Saudi and Egyptian investors. This will not take place unless the existing ownership law is amended. According to this law, the government sells one acre for 50 Egyptian pounds on the condition that the investor builds huge projects and employs thousands of people. This will create many direct employment opportunities for farmers as well as qualified and experienced graduates of agriculture colleges, particularly those returning from Saudi Arabia.
The investment in large agricultural projects will also boost the Egyptian economy. It will create new sources of income while the improvement in living standards will revive the populated areas near the agricultural projects and encourage service suppliers to enter these areas. This will facilitate the centralization of government services.
The settlement of a large number of people near the agricultural projects will curb the influx of migrants into big cities. The financial returns of these projects will surely lessen the impact of any economic crisis.
It is well known that introduction of agricultural mechanization will mean abundant production exceeding the local needs and providing surplus for export. This will lessen pressure on foreign currency.
Egypt is in need of huge companies for the best exploitation of available agricultural lands. But unfortunately neither Egyptian citizens nor foreign investors have shown any enthusiasm toward the government initiative while the government itself has not made any promise to carry out huge projects in these areas.
In fact, the currently invested area represents only a small portion of the total fertile lands. In the meantime, there is food shortage and urgent need for wheat — the product Egypt imports in large quantities. This constitutes a burden on the foreign currency reserves. In addition to all these facts, the imported wheat is of inferior quality and — in some cases — not good for human consumption.
It is quite clear that given the availability of vast fertile agricultural lands, there is no justification for the continuous import of wheat and the pressure on foreign currency reserves. Therefore, it is necessary to make the best use of the qualified Egyptian cadres and resources in huge agricultural projects.
All obstacles to investment and land ownership should be removed if Egypt is to develop its agriculture. This task should not be assigned to the committees whose practices in the past have only discouraged local and international investors.
What happened to the Egyptian agriculture graduates’ agricultural lands is one of the tragedies attributed to these committees. These graduates were given barren lands at cheap prices. But once they reclaimed the lands by spending so much money on it, the committees asked them to pay new prices for the lands as if they were selling them reclaimed lands. The result is that the committees killed the graduates’ project and frightened the investors. This discouraged agricultural investments in Egypt.
— Turki Faisal Al Rasheed is a Saudi writer.
http://www.arabnews.com/?page=7§ion=0&article=117515&d=25&m=12&y=2008
tfrasheed@goldengrass.com
http://www.saudiinfocus.com
Egypt has an abundance of fertile agricultural lands and plenty of irrigation waters (Nile River, streams, rain waters and underground waters). The weather is favorable for the natural growth of various plants and different kinds of agricultural products (farm and horticulture).
However, the dependence on manual cultivation and the failure of the government and private agricultural projects reveal some fundamental flaws and problems:
• Nonuse of pivotal sprays and nonexploitation of underground waters for irrigation of plants in case of shortage of rainfall and during dry season.
• Absence of full mechanization in cultivation, fertilization, insecticides, harvesting, peeling, cleaning and packing
• Lack of a plan for improvement of seeds and nonintroduction of improved varieties of seeds.
There are also pessimistic forecasts. A report issued by the US Agriculture Department revealed that Egypt will have a problem importing wheat in 2016, when Saudi Arabia will finally stop wheat cultivation and rely on imports for its wheat requirements.
In the meantime, an Egyptian government report says that “water security” is under threat due to the increase in population.
The 55.5 billion cubic meter quota for Egypt from Nile waters in addition to the implemented water projects at a cost of 35 billion pounds in the past years will not prevent shortage of irrigation water by 2030 if the increase in population continues at the current rate.
One of the best solutions will be to establish a large stock agricultural company owned by Saudi and Egyptian investors. This will not take place unless the existing ownership law is amended. According to this law, the government sells one acre for 50 Egyptian pounds on the condition that the investor builds huge projects and employs thousands of people. This will create many direct employment opportunities for farmers as well as qualified and experienced graduates of agriculture colleges, particularly those returning from Saudi Arabia.
The investment in large agricultural projects will also boost the Egyptian economy. It will create new sources of income while the improvement in living standards will revive the populated areas near the agricultural projects and encourage service suppliers to enter these areas. This will facilitate the centralization of government services.
The settlement of a large number of people near the agricultural projects will curb the influx of migrants into big cities. The financial returns of these projects will surely lessen the impact of any economic crisis.
It is well known that introduction of agricultural mechanization will mean abundant production exceeding the local needs and providing surplus for export. This will lessen pressure on foreign currency.
Egypt is in need of huge companies for the best exploitation of available agricultural lands. But unfortunately neither Egyptian citizens nor foreign investors have shown any enthusiasm toward the government initiative while the government itself has not made any promise to carry out huge projects in these areas.
In fact, the currently invested area represents only a small portion of the total fertile lands. In the meantime, there is food shortage and urgent need for wheat — the product Egypt imports in large quantities. This constitutes a burden on the foreign currency reserves. In addition to all these facts, the imported wheat is of inferior quality and — in some cases — not good for human consumption.
It is quite clear that given the availability of vast fertile agricultural lands, there is no justification for the continuous import of wheat and the pressure on foreign currency reserves. Therefore, it is necessary to make the best use of the qualified Egyptian cadres and resources in huge agricultural projects.
All obstacles to investment and land ownership should be removed if Egypt is to develop its agriculture. This task should not be assigned to the committees whose practices in the past have only discouraged local and international investors.
What happened to the Egyptian agriculture graduates’ agricultural lands is one of the tragedies attributed to these committees. These graduates were given barren lands at cheap prices. But once they reclaimed the lands by spending so much money on it, the committees asked them to pay new prices for the lands as if they were selling them reclaimed lands. The result is that the committees killed the graduates’ project and frightened the investors. This discouraged agricultural investments in Egypt.
— Turki Faisal Al Rasheed is a Saudi writer.
http://www.arabnews.com/?page=7§ion=0&article=117515&d=25&m=12&y=2008
Saturday, November 29, 2008
What ails Sudan’s agricultural sector
Turki Faisal Al-Rasheed Arab News
Saudi Arabia is in a better position to forge politico-economic partnerships with other countries with a view to achieving food security. The best partner in this respect is Sudan, known as the food basket of the Arab world. But foreigners are reluctant to invest in Sudan and the efforts made by the Sudanese government to overcome this reluctance have not met with much success. Under the deteriorating global situation, Arab countries that have agricultural potential, notably Sudan, have to bring in modern technologies and look for the best of encouraging agricultural investment and offering incentives to achieve this aim.
Why not? Sudan is blessed with fertile agricultural lands (more than 200 million acres). Only 20 percent of these lands are being utilized. Abundant irrigation facilities are also available (river waters including that of the Nile, rain waters and underground water). Furthermore, Sudan has a variety of weather (from 30 to 48 degrees centigrade), ranging from desert, and Mediterranean, savanna and Equatorial weather. There are different kinds of plantations and favorable environment for natural growth of various plants and agricultural products (farm and horticulture).
There are ample natural pastures and animal wealth while rainfall allows the growth of forests and woods. But despite the availability of suitable environment for growing various seeds, there are problems such as:
• Insufficient care given to seeds;
• No use of sprays and no exploitation of underground water for irrigation of plants in case of shortage of rainfall and during dry seasons.
• Lack of full mechanization in cultivation, harvesting, peeling, cleaning and packing; fertilizers and insecticides are applied in old ways.
• Lack of a plan for improving seeds and not using improved varieties of seeds.
• Sudan’s domestic problems have been internationalized, giving the impression of political instability in the country. This discourages investors.
• There is no clear ownership policy. The land ownership system is based on land lease, that is the right of benefiting from the land for a specific number of years. Therefore there is no incentive to attract huge projects.
• The agricultural lands lie adjacent to the oil excavation areas and it is quite possible that the government may suddenly discover that the land given to an investor is located over an oil well and may confiscate it and give the investor another land. This means wasting the efforts, time and money of the investors.
• Sudan is a country of shantytowns and people are settling in areas the government wants to award to investors. This means the investors will have to pay money for resettling the people living near the lands awarded to them.
• The investors are also obliged to provide water to these people from the wells drilled by them for agricultural projects.
• The proposed areas for investment lack the necessary infrastructural facilities, and this increases the investment costs, especially in transportation and energy.
• There are any number of administrative fees, especially in the states. This is apart from those imposed by the central government. Consequently, the investors are confused as to whom they should deal with.
To sum up:
Sudan is in need of huge companies to invest in the agricultural lands in an ideal way. As noted above, lands suitable for agriculture are more than 200 million acres with less than 20 percent under use.
In the past, Sudan used to export large quantities of peanuts and it has quit the overseas markets due to the above-mentioned factors.
Sudan imports two million tons of wheat, its staple food, annually. This can’t be justified when 160 million acres are available for cultivation.
The virgin land becomes barren when left uncultivated.
Huge agricultural investments will go a long way toward reducing unrest in Sudan. Investments in huge agricultural projects boost national income, reduce import bill (for agricultural products), provide a healthy, safe and permanent source of food, preserve the honor of the state and its people and protect the country against foreign intervention and economic pressures. All this means that senior Sudanese officials in charge of regulating agricultural investment system must reconsider the existing policies by eliminating their negative aspects and adding more incentives to attract national and foreign investors. The policies should be in accordance with the interests and ambitions of investors. Sudan should not allow a situation to continue where the virgin and fertile lands become barren while the government has to depend on imports to feed its hungry people.
— Turki Faisal Al-Rasheed is a Saudi writer.
Turki Faisal Al-Rasheed Arab News
Saudi Arabia is in a better position to forge politico-economic partnerships with other countries with a view to achieving food security. The best partner in this respect is Sudan, known as the food basket of the Arab world. But foreigners are reluctant to invest in Sudan and the efforts made by the Sudanese government to overcome this reluctance have not met with much success. Under the deteriorating global situation, Arab countries that have agricultural potential, notably Sudan, have to bring in modern technologies and look for the best of encouraging agricultural investment and offering incentives to achieve this aim.
Why not? Sudan is blessed with fertile agricultural lands (more than 200 million acres). Only 20 percent of these lands are being utilized. Abundant irrigation facilities are also available (river waters including that of the Nile, rain waters and underground water). Furthermore, Sudan has a variety of weather (from 30 to 48 degrees centigrade), ranging from desert, and Mediterranean, savanna and Equatorial weather. There are different kinds of plantations and favorable environment for natural growth of various plants and agricultural products (farm and horticulture).
There are ample natural pastures and animal wealth while rainfall allows the growth of forests and woods. But despite the availability of suitable environment for growing various seeds, there are problems such as:
• Insufficient care given to seeds;
• No use of sprays and no exploitation of underground water for irrigation of plants in case of shortage of rainfall and during dry seasons.
• Lack of full mechanization in cultivation, harvesting, peeling, cleaning and packing; fertilizers and insecticides are applied in old ways.
• Lack of a plan for improving seeds and not using improved varieties of seeds.
• Sudan’s domestic problems have been internationalized, giving the impression of political instability in the country. This discourages investors.
• There is no clear ownership policy. The land ownership system is based on land lease, that is the right of benefiting from the land for a specific number of years. Therefore there is no incentive to attract huge projects.
• The agricultural lands lie adjacent to the oil excavation areas and it is quite possible that the government may suddenly discover that the land given to an investor is located over an oil well and may confiscate it and give the investor another land. This means wasting the efforts, time and money of the investors.
• Sudan is a country of shantytowns and people are settling in areas the government wants to award to investors. This means the investors will have to pay money for resettling the people living near the lands awarded to them.
• The investors are also obliged to provide water to these people from the wells drilled by them for agricultural projects.
• The proposed areas for investment lack the necessary infrastructural facilities, and this increases the investment costs, especially in transportation and energy.
• There are any number of administrative fees, especially in the states. This is apart from those imposed by the central government. Consequently, the investors are confused as to whom they should deal with.
To sum up:
Sudan is in need of huge companies to invest in the agricultural lands in an ideal way. As noted above, lands suitable for agriculture are more than 200 million acres with less than 20 percent under use.
In the past, Sudan used to export large quantities of peanuts and it has quit the overseas markets due to the above-mentioned factors.
Sudan imports two million tons of wheat, its staple food, annually. This can’t be justified when 160 million acres are available for cultivation.
The virgin land becomes barren when left uncultivated.
Huge agricultural investments will go a long way toward reducing unrest in Sudan. Investments in huge agricultural projects boost national income, reduce import bill (for agricultural products), provide a healthy, safe and permanent source of food, preserve the honor of the state and its people and protect the country against foreign intervention and economic pressures. All this means that senior Sudanese officials in charge of regulating agricultural investment system must reconsider the existing policies by eliminating their negative aspects and adding more incentives to attract national and foreign investors. The policies should be in accordance with the interests and ambitions of investors. Sudan should not allow a situation to continue where the virgin and fertile lands become barren while the government has to depend on imports to feed its hungry people.
— Turki Faisal Al-Rasheed is a Saudi writer.
Eradicating poverty: Role of agriculture
Turki Faisal Al-Rasheed Arab News
Poverty is a global phenomenon. In Scandinavian countries two percent of the population live below poverty line. In some African countries this is as high as 35 percent. Throughout the world more than 35,000 people die of poverty a day.
As for Saudi Arabia, King Abdullah’s visit to a number of poor districts of the Riyadh city in Ramadan 1423 represented an official recognition for the first time of the existence of poverty in the Kingdom. That tour had a positive outcome as it led to the establishment of a charitable fund to help the poor. It also gave rise to an anti-poverty strategy. Before that, there was hardly any talk of poverty in this country.
The relevant World Bank studies stress that agriculture is the key to developing rural areas and eradicating poverty. In fact, the development of rural areas is the best means to achieve a fair distribution of income among the people of the Kingdom. It is proved that agriculture has more effect on anti-poverty strategy than any other activity because it provides basic food to the people. Development of rural areas and small villages is vital as it creates more employment opportunities and thereby curbs exodus of people to the big cities and towns in search of jobs.
After practical experience extending to three decades in the field of agriculture, this writer joined a doctorate program to prepare a research on the role of agriculture in fighting poverty, developing rural areas and maintaining security in the Kingdom.
This was due to a firm conviction that agricultural reform and rural development encourage sustainable development. This ensures food security, eliminates acute poverty and hunger, helps spread primary education, boosts equality and social justice.
The government has to assume responsibility for agricultural reform as well as other efforts that assist in eradicating poverty in rural areas and contribute to preservation of lands, water and other natural resources for the sake of securing the needs of ordinary people such as owners of cattle, herdsmen and nomad population. These efforts may also result in preventing or discouraging migration from rural areas to towns and cities that has an adverse impact on security. Some 75 percent of the Kingdom’s population lives in towns and cities. So the influx of people from rural areas puts too much pressure on services in the cities and an increase in the rate of crime.
So we must start with a sound agricultural strategy taking into consideration the relative advantage of achieving sustainable agricultural development depending on renewable water resources. Farmers’ efforts must be directed to remote areas that cry for development.
It may be pertinent to mention here that in some studies conducted on wheat, scientists have discovered that genetically modified (GMO) wheat consumes 30 percent of the water needed by nongenetically modified wheat while producing the same or more quantity.
The government now extends subsidies for soybeans, Guinea corns, maize, corn and barley, but the subsidy must be limited to breeders of cattle, camels, sheep and cows, particularly those who live in rural areas. It is also a must to reach the poor rural areas. The areas which are badly in need of development housing are eight in number, namely Makkah which includes 12 locations belonging to Al-Qunfudah, Al-Laith, Khulais, Al-Jamoum and Al-Kamel provinces, Madinah with five locations in Yanbu and Tabuk which has six locations belonging to Umluj, Al-Wajh, Dhubaa, Al-Bidaa and Haql provinces. There are three locations in each of Al-Baha, Asir and Jizan.
In the Eastern region, there are four locations in Al-Ahsa and Al-Qateef considered as among the most in need of development housing, while in Qassim region, there are six locations. In addition there are shantytowns in the Northern borders, Hail and Al-Jouf.
In this context, the findings of a Saudi are instructive. According to this study, the working children in the Kingdom amounts to 1.54 percent of the total number of children. The Eastern region accounts for highest number of working children (2.3 percent), followed by Makkah, Madinah, Asir and Riyadh. The study found that there are two types of working children. In the first category are children who work in the farms of their families and are unpaid. The other group includes children who work so they can contribute to the their families income.
For the development programs to be successful, we must design programs suited for each region. Regions have separate needs and resources. International organizations such as FAO may help in achieving these objectives.
— Turki Faisal Al-Rasheed is a Saudi Writer.
He can be contacted at: tfrasheed@goldengrass.com
Turki Faisal Al-Rasheed Arab News
Poverty is a global phenomenon. In Scandinavian countries two percent of the population live below poverty line. In some African countries this is as high as 35 percent. Throughout the world more than 35,000 people die of poverty a day.
As for Saudi Arabia, King Abdullah’s visit to a number of poor districts of the Riyadh city in Ramadan 1423 represented an official recognition for the first time of the existence of poverty in the Kingdom. That tour had a positive outcome as it led to the establishment of a charitable fund to help the poor. It also gave rise to an anti-poverty strategy. Before that, there was hardly any talk of poverty in this country.
The relevant World Bank studies stress that agriculture is the key to developing rural areas and eradicating poverty. In fact, the development of rural areas is the best means to achieve a fair distribution of income among the people of the Kingdom. It is proved that agriculture has more effect on anti-poverty strategy than any other activity because it provides basic food to the people. Development of rural areas and small villages is vital as it creates more employment opportunities and thereby curbs exodus of people to the big cities and towns in search of jobs.
After practical experience extending to three decades in the field of agriculture, this writer joined a doctorate program to prepare a research on the role of agriculture in fighting poverty, developing rural areas and maintaining security in the Kingdom.
This was due to a firm conviction that agricultural reform and rural development encourage sustainable development. This ensures food security, eliminates acute poverty and hunger, helps spread primary education, boosts equality and social justice.
The government has to assume responsibility for agricultural reform as well as other efforts that assist in eradicating poverty in rural areas and contribute to preservation of lands, water and other natural resources for the sake of securing the needs of ordinary people such as owners of cattle, herdsmen and nomad population. These efforts may also result in preventing or discouraging migration from rural areas to towns and cities that has an adverse impact on security. Some 75 percent of the Kingdom’s population lives in towns and cities. So the influx of people from rural areas puts too much pressure on services in the cities and an increase in the rate of crime.
So we must start with a sound agricultural strategy taking into consideration the relative advantage of achieving sustainable agricultural development depending on renewable water resources. Farmers’ efforts must be directed to remote areas that cry for development.
It may be pertinent to mention here that in some studies conducted on wheat, scientists have discovered that genetically modified (GMO) wheat consumes 30 percent of the water needed by nongenetically modified wheat while producing the same or more quantity.
The government now extends subsidies for soybeans, Guinea corns, maize, corn and barley, but the subsidy must be limited to breeders of cattle, camels, sheep and cows, particularly those who live in rural areas. It is also a must to reach the poor rural areas. The areas which are badly in need of development housing are eight in number, namely Makkah which includes 12 locations belonging to Al-Qunfudah, Al-Laith, Khulais, Al-Jamoum and Al-Kamel provinces, Madinah with five locations in Yanbu and Tabuk which has six locations belonging to Umluj, Al-Wajh, Dhubaa, Al-Bidaa and Haql provinces. There are three locations in each of Al-Baha, Asir and Jizan.
In the Eastern region, there are four locations in Al-Ahsa and Al-Qateef considered as among the most in need of development housing, while in Qassim region, there are six locations. In addition there are shantytowns in the Northern borders, Hail and Al-Jouf.
In this context, the findings of a Saudi are instructive. According to this study, the working children in the Kingdom amounts to 1.54 percent of the total number of children. The Eastern region accounts for highest number of working children (2.3 percent), followed by Makkah, Madinah, Asir and Riyadh. The study found that there are two types of working children. In the first category are children who work in the farms of their families and are unpaid. The other group includes children who work so they can contribute to the their families income.
For the development programs to be successful, we must design programs suited for each region. Regions have separate needs and resources. International organizations such as FAO may help in achieving these objectives.
— Turki Faisal Al-Rasheed is a Saudi Writer.
He can be contacted at: tfrasheed@goldengrass.com
Monday, February 04, 2008
Bahrain to buy 'farms' in Saudi
THE Municipalities and Agriculture Ministry, in co-operation with the private sector, plans to buy about 300 million sqm of agricultural land in eastern parts of Saudi Arabia.
These will be rented out to Bahraini farmers on easy terms on condition they plant what the ministry wants, a report says.
The ministry will buy produce from them and sell it in the Bahraini market. Sources in the private sector said the deal may cost more than BD300 million and the ministry would provide water, electricity and seeds. They said the plan would help achieve food security for Bahrain in the long run.
The lands are not far from Bahrain and will provide at least 1,000 jobs for Bahrainis, it said.
http://www.gulf-daily-news.com/Story.asp?Article=207810&Sn=BNEW&IssueID=30322
Monday, July 09, 2007
We are told that your government provided $2.5 million to this training program in 2005 and 2006, which the US House of Representatives seeks to block in future. While the ban on such aid would not have even the slightest impact on a rich country like Saudi Arabia, what bothers me is the argument advanced in justifying such a ban
Saudi Businessman Blasts US Double Standard
Javid Hassan, Arab News
RIYADH, 8 July 2007 — Blasting the United States for its double standard in the Middle East policy, a Saudi businessman has said that while the country has a department of public diplomacy to try to undo the damage done to its image as a result of its wars in Afghanistan and Iraq, it persists in its pro-Israeli tilt along with a hostile attitude toward Muslims.
This is one of the points raised by Turki Faisal Al-Rasheed, chairman of Riyadh-based Golden Grass Inc., an agricultural company, in a letter sent to all US congressmen. A copy of the letter was also received by Arab News.
Al-Rasheed, who also runs two websites, wrote to the congressmen in the context of the recent House of Representatives vote prohibiting any aid to Saudi Arabia. The legislation calls for a blockage of any further financial assistance extended by the US government.
His letter to the congressmen comes at a time when US Undersecretary for Public Diplomacy Karen Hughes invited 24 women from Harvard University in the United States and Jeddah-based Dar Al-Hekma College who met in Jordan recently to take part in a “Habitat for Humanity” building project.
The joint effort, called the “Hekma-Harvard Women Build”, provided an opportunity for women from both cultures not only to help build two homes in the community of Ghor Al-Safi, but also to exchange ideas and experiences through this unique international project.
The two groups were linked initially through a teleconference by Hughes who visited Dar Al-Hekma College in 2005. Eager to find a way to link women in Saudi Arabia with their counterparts in the US, Hughes’ office contacted Harvard University, where the idea for the joint build was circulated to students at the John F. Kennedy School of Government. Habitat for Humanity became involved when Hughes’ office contacted Habitat for Humanity International in Washington, DC.
Such an initiative to enhance its public image in the Middle East, it is pointed out, is nullified by its blatantly pro-Israeli Middle East policy and its continued moves toward pre-emptive strikes against states deemed hostile to US interests. Iraq was one of the victims of such invasion waged on a false pretext.
In his letter, Al-Rasheed said: “We are told that your government provided $2.5 million to this training program in 2005 and 2006, which the US House of Representatives seeks to block in future. While the ban on such aid would not have even the slightest impact on a rich country like Saudi Arabia, what bothers me is the argument advanced in justifying such a ban.”
The letter has provoked strong comments, both for and against, from the congressmen.
Al-Rasheed said that “when we talk of religious intolerance, the US, unfortunately, projects a poor image of a country that has become increasingly intolerant of Islam and symbols identified with this faith.”
In this context, he quotes the Council on American-Islamic Relations (CAIR) “which has documented numerous cases of Muslims being harassed in the US, mosques damaged, women in veil being humiliated, and others discriminated against in schools and offices on grounds of their religious belief. No one ever hears of any gentleman wearing a skull cap being the subject of individual or media attention.”
Referring to the charge of religious intolerance, he said congressmen have to remember that Saudi Arabia is the home of the Islamic world’s two holiest mosques.
“Its position is similar to that of the Vatican, which is the seat of the Catholic world. I do not think that nuns in Rome or anywhere else in the world, including Muslim countries, would ever invite hostile attention for moving about with their faces covered. After all, such an appendage is part of their faith, which they must practice.”
http://www.arabnews.com/?page=4§ion=0&article=93300&d=8&m=7&y=2007
Javid Hassan, Arab News
RIYADH, 8 July 2007 — Blasting the United States for its double standard in the Middle East policy, a Saudi businessman has said that while the country has a department of public diplomacy to try to undo the damage done to its image as a result of its wars in Afghanistan and Iraq, it persists in its pro-Israeli tilt along with a hostile attitude toward Muslims.
This is one of the points raised by Turki Faisal Al-Rasheed, chairman of Riyadh-based Golden Grass Inc., an agricultural company, in a letter sent to all US congressmen. A copy of the letter was also received by Arab News.
Al-Rasheed, who also runs two websites, wrote to the congressmen in the context of the recent House of Representatives vote prohibiting any aid to Saudi Arabia. The legislation calls for a blockage of any further financial assistance extended by the US government.
His letter to the congressmen comes at a time when US Undersecretary for Public Diplomacy Karen Hughes invited 24 women from Harvard University in the United States and Jeddah-based Dar Al-Hekma College who met in Jordan recently to take part in a “Habitat for Humanity” building project.
The joint effort, called the “Hekma-Harvard Women Build”, provided an opportunity for women from both cultures not only to help build two homes in the community of Ghor Al-Safi, but also to exchange ideas and experiences through this unique international project.
The two groups were linked initially through a teleconference by Hughes who visited Dar Al-Hekma College in 2005. Eager to find a way to link women in Saudi Arabia with their counterparts in the US, Hughes’ office contacted Harvard University, where the idea for the joint build was circulated to students at the John F. Kennedy School of Government. Habitat for Humanity became involved when Hughes’ office contacted Habitat for Humanity International in Washington, DC.
Such an initiative to enhance its public image in the Middle East, it is pointed out, is nullified by its blatantly pro-Israeli Middle East policy and its continued moves toward pre-emptive strikes against states deemed hostile to US interests. Iraq was one of the victims of such invasion waged on a false pretext.
In his letter, Al-Rasheed said: “We are told that your government provided $2.5 million to this training program in 2005 and 2006, which the US House of Representatives seeks to block in future. While the ban on such aid would not have even the slightest impact on a rich country like Saudi Arabia, what bothers me is the argument advanced in justifying such a ban.”
The letter has provoked strong comments, both for and against, from the congressmen.
Al-Rasheed said that “when we talk of religious intolerance, the US, unfortunately, projects a poor image of a country that has become increasingly intolerant of Islam and symbols identified with this faith.”
In this context, he quotes the Council on American-Islamic Relations (CAIR) “which has documented numerous cases of Muslims being harassed in the US, mosques damaged, women in veil being humiliated, and others discriminated against in schools and offices on grounds of their religious belief. No one ever hears of any gentleman wearing a skull cap being the subject of individual or media attention.”
Referring to the charge of religious intolerance, he said congressmen have to remember that Saudi Arabia is the home of the Islamic world’s two holiest mosques.
“Its position is similar to that of the Vatican, which is the seat of the Catholic world. I do not think that nuns in Rome or anywhere else in the world, including Muslim countries, would ever invite hostile attention for moving about with their faces covered. After all, such an appendage is part of their faith, which they must practice.”
http://www.arabnews.com/?page=4§ion=0&article=93300&d=8&m=7&y=2007
Thursday, February 15, 2007
GGI is set to divert from the agriculture business to the intricate world of real estate. Al-Rasheed said that most entrepreneurs in the Kingdom as well as in other countries mortgage their houses to generate funds if they hit upon a business idea.
Arab News
Tuesday, 13, February, 2007 (25, Muharram, 1428)
GGI Seeks Changes in Real Estate Industry Regulations
Rodolfo C. Estimo Jr.,
RIYADH, 13 February 2007 — The local real estate industry has bright prospects but the existing regulatory rule has to be changed or amended, according to Turki Faisal Al-Rasheed, CEO of Golden Grass, Inc. (GGI) which is ranked among the Kingdom’s top 100 companies.
“The real estate industry in the Kingdom has been on the uptrend. In fact, it’s a huge market with bright prospects. We’re expecting a $50 billion worth of real estate development annually for the next 20 years but this would materialize only if the government has to change or amend the existing regulatory rule,” he told Arab News.
GGI is set to divert from the agriculture business to the intricate world of real estate. Al-Rasheed said that most entrepreneurs in the Kingdom as well as in other countries mortgage their houses to generate funds if they hit upon a business idea. In this connection, he said, there’s a problem in Saudi Arabia because if a Saudi has a lien on his house, he cannot have a second or even a third mortgage on his property, adding that to purchase a second or third mortgage on a house is important to generate cash for business expansion.
“ At present, there are 650,000 housing units being constructed by the government. A Saudi national is allowed to borrow up to SR300,000 to avail of these houses for his family but he cannot sell or mortgage the property to raise capital for business expansion because of the existing regulation,” he said. He added that the government should remove the barriers to business growth and allow the sale of a property with a lien as well as allow a second or third mortgage to a property with a first lien so that the owner can generate cash for business growth.
Asked if something is being done, or has been done, to remove the barriers he was referring to, he said, “Yes. We’re thankful that the government has taken a positive view of our complaints. The Shoura Council said that it will form a government organization similar to the Supreme Commission for Tourism in the tourism sector to solve the problems of the local real estate industry.”
http://www.arabnews.com/?page=6§ion=0&article=92104&d=13&m=2&y=2007
Copyright: Arab News © 2003 All rights reserved. Site designed by: arabix and powered by Eima IT
Arab News
Tuesday, 13, February, 2007 (25, Muharram, 1428)
GGI Seeks Changes in Real Estate Industry Regulations
Rodolfo C. Estimo Jr.,
RIYADH, 13 February 2007 — The local real estate industry has bright prospects but the existing regulatory rule has to be changed or amended, according to Turki Faisal Al-Rasheed, CEO of Golden Grass, Inc. (GGI) which is ranked among the Kingdom’s top 100 companies.
“The real estate industry in the Kingdom has been on the uptrend. In fact, it’s a huge market with bright prospects. We’re expecting a $50 billion worth of real estate development annually for the next 20 years but this would materialize only if the government has to change or amend the existing regulatory rule,” he told Arab News.
GGI is set to divert from the agriculture business to the intricate world of real estate. Al-Rasheed said that most entrepreneurs in the Kingdom as well as in other countries mortgage their houses to generate funds if they hit upon a business idea. In this connection, he said, there’s a problem in Saudi Arabia because if a Saudi has a lien on his house, he cannot have a second or even a third mortgage on his property, adding that to purchase a second or third mortgage on a house is important to generate cash for business expansion.
“ At present, there are 650,000 housing units being constructed by the government. A Saudi national is allowed to borrow up to SR300,000 to avail of these houses for his family but he cannot sell or mortgage the property to raise capital for business expansion because of the existing regulation,” he said. He added that the government should remove the barriers to business growth and allow the sale of a property with a lien as well as allow a second or third mortgage to a property with a first lien so that the owner can generate cash for business growth.
Asked if something is being done, or has been done, to remove the barriers he was referring to, he said, “Yes. We’re thankful that the government has taken a positive view of our complaints. The Shoura Council said that it will form a government organization similar to the Supreme Commission for Tourism in the tourism sector to solve the problems of the local real estate industry.”
http://www.arabnews.com/?page=6§ion=0&article=92104&d=13&m=2&y=2007
Copyright: Arab News © 2003 All rights reserved. Site designed by: arabix and powered by Eima IT
Saturday, February 10, 2007
The term greenhouse effect is used to describe the warming effect that certain gases have on the temperature of the earth's atmosphere under normal conditions.
Facts on Global Warming (Part 1)
Posted by Imran H Khan on Feb 11, 2007, 06:01
Global warming (also called the greenhouse effect) describes the gradual increase of the air temperature in the earth's lower atmosphere.
Why is this called the Greenhouse Effect?
A greenhouse is made entirely of glass. When sunlight (shortwave radiation) strikes the glass, most of it passes through and warms up the plants, soil and air inside the greenhouse. As these objects warm up they give off heat, but these heat waves have a much longer wavelength than the incoming rays from the sun. This longwave radiation cannot easily pass through glass; it is re-radiated into the greenhouse, causing everything in it to heat up.
The term greenhouse effect is used to describe the warming effect that certain gases have on the temperature of the earth's atmosphere under normal conditions.
Sunlight (shortwave radiation) passes easily through the earth's atmosphere. Once it strikes and warms the earth's surface, longwave radiation is given off and goes back into the atmosphere. While some of this longwave radiation or heat escapes into space, most of it is absorbed or held by carbon dioxide and other gases that exist in small quantities in the atmosphere. Thus these gases form a `blanket' that keeps the earth an average of 33 degrees centigrade warmer than it would be if this greenhouse effect did not occur. Without these gases the whole planet would be an icy wasteland with an average temperature of 16 degrees centigrade below freezing!
Human population growth and related industrial expansion, have led to greater air pollution and a change in the composition of the earth's atmosphere. Some pollutants enhance the natural greenhouse effect, resulting in increased global atmospheric temperatures.
The gases that are responsible for the increase in the greenhouse effect are:
Carbon dioxide (CO2) is the pollutant most responsible for increased global warming. It is released into the atmosphere mainly through burning of fossil fuels (e.g. coal, petrol, diesel). In addition, widespread destruction of natural vegetation, particularly forests, has contributed to increased atmospheric CO2 levels (. This has occurred for two reasons. First, plants take up CO2 through the process of photosynthesis. The destruction of vegetation, as occurs in deforestation, reduces the amount of CO2 that is removed from the atmosphere. Second, when forests are cleared, and burnt or left to rot, CO2 is released.
Methane (CH4) has doubled in concentration, mainly as a result of agricultural activities, between 1750 and 1990.
Nitrous oxide (N2O), also a product of burning fossil fuel, has increased by 8% over the same period.
Chlorofluorocarbons (CFCs), in addition to damaging the ozone layer, are potent greenhouse gases. Their concentrations in the atmosphere are increasing by about 4% every year.
Therefore, the average global temperature is about 0,5 degrees centigrade warmer than it was 100 years ago. Snow and ice-cover has decreased this century, deep ocean temperatures have increased, and cloud cover over North America has also increased over this period. The latter indicates increased atmospheric water vapor. Over the last century, global sea levels have risen by between 100 mm and 200 mm. Rising sea levels cause water to expand as it warms and glaciers melt, adding water to the oceans, thus scientists expect widespread flooding of coastal areas as sea levels rise. If current pollution trends continue, scientists conclude that the earth could probably be about 1 degree centigrade warmer by 2025 and 3 degrees centigrade warmer by 2100.
This rapid temperature rise could have several effects:
"There maybe a greater frequency and scale of extreme weather conditions, e.g. drought and flood as being experience by most regions of the world.
"Changes in the distribution of disease-bearing organisms so that people, domestic animals, and crops might be exposed to diseases previously absent from an area.
"These changes in global temperature, although apparently small, could cause very large changes in climate. For example, the last Ice Age, which ended approximately 15 000 years ago, was only 5 degrees centigrade colder than current temperatures, but the resulting climate changes were massive: most of North America was covered in a layer of ice about 1,5 km thick.
Although I am not an expert on the issue the aforementioned facts make incredible reading and this is just the basic stuff. Therefore, in conclusion to this part I can honestly say the facts are worrying and a definite cause for concern. The facts I have quoted are readily available on any number of given reputable websites and books. The analysis I provide here is not an opinion or personal point of view but facts. Thus in order to truly understand the issue one must observe and correlate the entire picture of human civilization on Earth. Next week I examine the political, social and economic hurdles that have contributed to the Global Warming effect and the steps required to negotiate with this grave concern that affects the whole of humanity now and for future generations.
Facts and statistics obtained from:
United Nations Framework Convention on Climate Change;
Institute for Biodiversity and Conservation;
National Oceanic and Atmospheric Administration
http://www.canyon-news.com/artman/publish/article_5274.php
Facts on Global Warming (Part 1)
Posted by Imran H Khan on Feb 11, 2007, 06:01
Global warming (also called the greenhouse effect) describes the gradual increase of the air temperature in the earth's lower atmosphere.
Why is this called the Greenhouse Effect?
A greenhouse is made entirely of glass. When sunlight (shortwave radiation) strikes the glass, most of it passes through and warms up the plants, soil and air inside the greenhouse. As these objects warm up they give off heat, but these heat waves have a much longer wavelength than the incoming rays from the sun. This longwave radiation cannot easily pass through glass; it is re-radiated into the greenhouse, causing everything in it to heat up.
The term greenhouse effect is used to describe the warming effect that certain gases have on the temperature of the earth's atmosphere under normal conditions.
Sunlight (shortwave radiation) passes easily through the earth's atmosphere. Once it strikes and warms the earth's surface, longwave radiation is given off and goes back into the atmosphere. While some of this longwave radiation or heat escapes into space, most of it is absorbed or held by carbon dioxide and other gases that exist in small quantities in the atmosphere. Thus these gases form a `blanket' that keeps the earth an average of 33 degrees centigrade warmer than it would be if this greenhouse effect did not occur. Without these gases the whole planet would be an icy wasteland with an average temperature of 16 degrees centigrade below freezing!
Human population growth and related industrial expansion, have led to greater air pollution and a change in the composition of the earth's atmosphere. Some pollutants enhance the natural greenhouse effect, resulting in increased global atmospheric temperatures.
The gases that are responsible for the increase in the greenhouse effect are:
Carbon dioxide (CO2) is the pollutant most responsible for increased global warming. It is released into the atmosphere mainly through burning of fossil fuels (e.g. coal, petrol, diesel). In addition, widespread destruction of natural vegetation, particularly forests, has contributed to increased atmospheric CO2 levels (. This has occurred for two reasons. First, plants take up CO2 through the process of photosynthesis. The destruction of vegetation, as occurs in deforestation, reduces the amount of CO2 that is removed from the atmosphere. Second, when forests are cleared, and burnt or left to rot, CO2 is released.
Methane (CH4) has doubled in concentration, mainly as a result of agricultural activities, between 1750 and 1990.
Nitrous oxide (N2O), also a product of burning fossil fuel, has increased by 8% over the same period.
Chlorofluorocarbons (CFCs), in addition to damaging the ozone layer, are potent greenhouse gases. Their concentrations in the atmosphere are increasing by about 4% every year.
Therefore, the average global temperature is about 0,5 degrees centigrade warmer than it was 100 years ago. Snow and ice-cover has decreased this century, deep ocean temperatures have increased, and cloud cover over North America has also increased over this period. The latter indicates increased atmospheric water vapor. Over the last century, global sea levels have risen by between 100 mm and 200 mm. Rising sea levels cause water to expand as it warms and glaciers melt, adding water to the oceans, thus scientists expect widespread flooding of coastal areas as sea levels rise. If current pollution trends continue, scientists conclude that the earth could probably be about 1 degree centigrade warmer by 2025 and 3 degrees centigrade warmer by 2100.
This rapid temperature rise could have several effects:
"There maybe a greater frequency and scale of extreme weather conditions, e.g. drought and flood as being experience by most regions of the world.
"Changes in the distribution of disease-bearing organisms so that people, domestic animals, and crops might be exposed to diseases previously absent from an area.
"These changes in global temperature, although apparently small, could cause very large changes in climate. For example, the last Ice Age, which ended approximately 15 000 years ago, was only 5 degrees centigrade colder than current temperatures, but the resulting climate changes were massive: most of North America was covered in a layer of ice about 1,5 km thick.
Although I am not an expert on the issue the aforementioned facts make incredible reading and this is just the basic stuff. Therefore, in conclusion to this part I can honestly say the facts are worrying and a definite cause for concern. The facts I have quoted are readily available on any number of given reputable websites and books. The analysis I provide here is not an opinion or personal point of view but facts. Thus in order to truly understand the issue one must observe and correlate the entire picture of human civilization on Earth. Next week I examine the political, social and economic hurdles that have contributed to the Global Warming effect and the steps required to negotiate with this grave concern that affects the whole of humanity now and for future generations.
Facts and statistics obtained from:
United Nations Framework Convention on Climate Change;
Institute for Biodiversity and Conservation;
National Oceanic and Atmospheric Administration
http://www.canyon-news.com/artman/publish/article_5274.php
Saturday, December 09, 2006
Golden Grass, Inc. 25 years Celebration
Golden Grass, Inc. have celebrated its 25 years of fruitful business in Saudi Arabia last 2 November 2006.
During the course of the celebration, it showcases the achievements such as being the the top exporter of peanuts in the Middle East and one of the top 100 companies in Saudi Arabia. It focuses also the present and futures plans of the company to spread its agriculture expertise in the arab world.
The highlights of the celebration was honoring it division with plaque of appreciation and citations, give away gifts and luncheon. The Celebrations was attended by Golden Grass,Inc. employees and staff.
Golden Grass, Inc. have celebrated its 25 years of fruitful business in Saudi Arabia last 2 November 2006.
During the course of the celebration, it showcases the achievements such as being the the top exporter of peanuts in the Middle East and one of the top 100 companies in Saudi Arabia. It focuses also the present and futures plans of the company to spread its agriculture expertise in the arab world.
The highlights of the celebration was honoring it division with plaque of appreciation and citations, give away gifts and luncheon. The Celebrations was attended by Golden Grass,Inc. employees and staff.
Tuesday, November 28, 2006
Scientists have cloned a gene from wild wheat that they hope could boost the nutritional value of bread and pasta and help fight world hunger, the US Department of Agriculture said. Researchers at the University of California-Davis and the University of Haifa in Israel cloned the gene, GPC-B1, which increases grain protein, zinc and iron content.
The project was funded by the Agriculture Department and a bilateral US-Israeli research fund, USDA said in a statement.
“As a major crop across the globe, providing 20 percent of all calories consumed by humans, any improvement in the nutritional value of wheat would have substantial health benefits for much of the world’s population,” Gale Buchanan, USDA’s undersecretary for research, education and economics, said in a statement.
GPC-B1 increases grain protein and micronutrient content by up to 15 percent in some wheat varieties, USDA said. The hope is that pasta and bread made from wheat with a functional copy of the gene would be more healthy.
The research was partially funded by USDA’s Cooperative State Research, Education and Extension Service.
Saturday, November 18, 2006
Golden Grass, Inc. Awards/Citations
18 November 2006
18 November 2006
Arab News Top 100 Supplement
Saudi Arabia
Golden Grass,Inc. The top 100 Saudi Companies 2001 Rank no. 100
Golden Grass, Inc.The top 100 Saudi Companies 2001 Rank no. 96
Golden Grass, Inc. The top 100 Saudi Companies 1995 Rank no. 95
Search Magazine
Saudi Arabia, The Gulf and The Middle East
Golden Grass, Inc. has been listed among its top 100 Saudi Corporations for the year 1997.
Golden Grass, Inc. has been listed among its top 100 Saudi Exporting Corporations for the year 1996.
Golden Grass, Inc. has been listed among its top 100 Saudi non-oil exporting corporations supplement for the year 1995.
Al Hayat Newspaper
Saudi Arabia
Golden Grass, Inc. has been listed as one of The top 150 companies in Saudi Arabia for the year 1999
Top 1000 Saudi Companies
International Information & Trading Services Co.
Saudi Arabia
Golden Grass, Inc. Top 1000 companies 7th edition 2003-2004 rank no. 247
Golden Grass, Inc. Top 1000 companies 5th edition 1997-1998 rank no. 208
Golden Grass, Inc. Top 1000 companies 4th edition 1995-1996 rank no. 208
Golden Grass, Inc. Top 1000 companies 3rd edition 1993 rank no. 233
Golden Grass, Inc. Top 1000 companies 2nd edition 1991-92 rank no. 394
Top Exporters and Importers Directory
Published by IIT
Saudi Arabia
Golden Grass, Inc. has been listed at the Top Exporters Section for the 1994-1995.
Thursday, November 16, 2006
Saudi farm to grow olives in Hail
Arab News 9 July 1999
Riyadh --- The Kingdom's policy to encourage crop diversification as part of its water conservation program is paying dividends, with a Saudi farm becoming the first in the Kingdom to grow olives at its facility in Hail.
We are also looking for a joint venture partner to go into the production of peanut butter, "Turki Faisal Al Rasheed, president of Golden Grass, Inc., told Arab News. He said their peanut farm at Hail is already producing 7,000 to 10,000 tons of peanut annually. Hence there is a good potential for peanut butter, which is currently being imported.
Asked about the olive production at his farm, Al Rasheed said the first crop of six tons is expected in three months. At present, Saudi Arabia is importing olives from Spain, Morocco and other Maghreb countries. Local production of olives could set the state for the extraction of olive oil in future. According to him, the Kingdom's crop diversification program owes its success largely to the government's encouragement and support in the form of subsidies which range from 50 percent of the official price on irrigation engines and pumps to 45 percent of the official price of farm machinery, 30 percent each of the total cost of poultry/dairy farms equipment, besides full cost of air transport (more than 50 cows per shipment), etc.
As a result, there has been a remarkable growth in the production of most categories of vegetables, fruits, meat, milk and eggs. Replying to a question on the payment of arrears to farmers, Al Rasheed said that some 38,000 people will benefit, with the latest installment of dues amounting to SR 3 billion payable by September 1998. A total of SR 18 billion has been paid to the farmers during the last three years, he observed.
Arab News 9 July 1999
Riyadh --- The Kingdom's policy to encourage crop diversification as part of its water conservation program is paying dividends, with a Saudi farm becoming the first in the Kingdom to grow olives at its facility in Hail.
We are also looking for a joint venture partner to go into the production of peanut butter, "Turki Faisal Al Rasheed, president of Golden Grass, Inc., told Arab News. He said their peanut farm at Hail is already producing 7,000 to 10,000 tons of peanut annually. Hence there is a good potential for peanut butter, which is currently being imported.
Asked about the olive production at his farm, Al Rasheed said the first crop of six tons is expected in three months. At present, Saudi Arabia is importing olives from Spain, Morocco and other Maghreb countries. Local production of olives could set the state for the extraction of olive oil in future. According to him, the Kingdom's crop diversification program owes its success largely to the government's encouragement and support in the form of subsidies which range from 50 percent of the official price on irrigation engines and pumps to 45 percent of the official price of farm machinery, 30 percent each of the total cost of poultry/dairy farms equipment, besides full cost of air transport (more than 50 cows per shipment), etc.
As a result, there has been a remarkable growth in the production of most categories of vegetables, fruits, meat, milk and eggs. Replying to a question on the payment of arrears to farmers, Al Rasheed said that some 38,000 people will benefit, with the latest installment of dues amounting to SR 3 billion payable by September 1998. A total of SR 18 billion has been paid to the farmers during the last three years, he observed.
Tuesday, November 14, 2006
Golden Grass succeeds in peanut cultivation
Saudi Commerce & Economic Review
January 1996
A Saudi company, Golden Grass, Inc., has successfully cultivated peanu (groundnut) in Saudi Arabia in its farm at Hail. This is the first successful experiment in peanut cultivation in the Middle East.
The local market demand for peanuts is 5,000 tonnes a year. The company plans to add value to its crop by manufacturing peanut butter. This plant is already built and is waiting for loan approval from the Saudi Industrial Development Fund (SIDF). It also plants to set up a facility for roasted, salted and blanched peanuts.
The company initially had a tough time marketing its crop in the Kingdom and ran into losses for two to three years. But today it has a 30 percent market share with its "Virginia" and "Runner" varieties. Major international buyers are from Australia, Europe, Jordan and theUAE. Negotiations are under way to export to the US and South Africa.
Monday, November 13, 2006
Kingdom promotes food productivity
Arab News 19 May 1990
Riyadh--- Minister of Industry and Electricity Abdulaziz Al-Zamil will inaugurate at the Saudi Consulting House tomorrow a seminar on boosting productivity of food industries in the Kingdom, it was announced here today.
It is the first time that a seminar of this type is being organized to promote the concept of productivity in the farm sector in conjunction with renowned consultants like Arthur D. Little International Inc., Booth Smith Associates an W.S. Atkins and Associates. Praising the idea behind the seminar, Turki Faisal Al Rasheed , told " Arab News" that it might be a good idea to consider transferring part of the wheat subsidies to other crops like maize, barley, corn, peanuts and soyabean where cultivation has to be undertaken with a low level of subsidies. He said that since the Kingdom was already production an extra three million tons of wheat, it made sense to whittle down wheat subsidies and divert the same to other crops which had become unrenumerative on this score.
Al Rasheed suggested that the Grain Silos Flour Mills Organizaion (GSFMO) of the Ministry of Commerce should set up a mechanism that allowed banks to endorse the promissory note. This, he said, would help solve credit flow problems for the farmers who now have to depend on their own resourcecs.
Sunday, November 12, 2006
SR 9billion payout to benefit farming, retail sectors
Arab News 27 August 1996
Riyadh—An estimated 40,000 Saudi farmers will start receiving the first installment of SR 9 billion from the branch offices of the Saudi Arabian Monetary Agency (SAMA) in the Kingdom starting from Aug. 31.
Giving this information to Arab News, Turki Faisal Al-Rasheed, president of Golden Grass, Inc., a Saudi agricultural firm, said the total amount of dues to the farmers –SR 9 billion—has been divided into three installments of SR 3 billion each, of which the first installment falls due on Aug. 31. The remaining two installments will be paid out on Sept. 1, 1997 and '98 respectively.
The farmers were distributed convertible promissory notes, or 'shahadah', last year indicating the date of encashment. Thanking the Saudi government for its gesture to the farmers, Al-Rasheed said it will go a long way in giving a much-needed boost to the farming community.
The impact of this cash infusion into the economy, he said, will be felt all the way from Wadi Dawasir in the Central province to Tabuk up north. "What this means is that each farmer will receive, on an average, SR 230,000. Such a sizeable cash infusion into the economy will have a multiplier effect. It will not only help the agricultural sector but also the retail sector, as it will give a new lift to their spending power. "He pointed out that it will also relieve pressure on the farmers, since each payment is preceded by the agricultural certificate promising payment on a due date." So instead of making direct payment, they could transfer the agricultural certificate to the suppliers of fertilizer, such as Sabic, or diesel oil, like petromin."
Al-Rasheed said the mode of payment adopted in the case of farmers could open new business opportunities for the private sector without building up the monetary pressure. "For instance, the contractors could receive promissory notes stating a fixed date for the payment of their dues. This will keep things moving while minimizing pressure on the government budget."
Referring to this future plans, Al-Rasheed said Golden Grass is in the process of setting up a peanut butter farm estimated to cost around SR 15 million at their facility in Hail. The Saudi Industrial Development Fund is studying their proposal and is expected to take an early decision on their loan application.
The proposed peanut butter plant is part of the firm's import substitution program. Currently, the Kingdom imports 2,500 tons of peanut annually. Since Golden Grass has its own peanut farm production of peanut butter is deemed to be a logical step in this direction. There is at present only one peanut butter plant in the Kingdom.
Arab News 27 August 1996
Riyadh—An estimated 40,000 Saudi farmers will start receiving the first installment of SR 9 billion from the branch offices of the Saudi Arabian Monetary Agency (SAMA) in the Kingdom starting from Aug. 31.
Giving this information to Arab News, Turki Faisal Al-Rasheed, president of Golden Grass, Inc., a Saudi agricultural firm, said the total amount of dues to the farmers –SR 9 billion—has been divided into three installments of SR 3 billion each, of which the first installment falls due on Aug. 31. The remaining two installments will be paid out on Sept. 1, 1997 and '98 respectively.
The farmers were distributed convertible promissory notes, or 'shahadah', last year indicating the date of encashment. Thanking the Saudi government for its gesture to the farmers, Al-Rasheed said it will go a long way in giving a much-needed boost to the farming community.
The impact of this cash infusion into the economy, he said, will be felt all the way from Wadi Dawasir in the Central province to Tabuk up north. "What this means is that each farmer will receive, on an average, SR 230,000. Such a sizeable cash infusion into the economy will have a multiplier effect. It will not only help the agricultural sector but also the retail sector, as it will give a new lift to their spending power. "He pointed out that it will also relieve pressure on the farmers, since each payment is preceded by the agricultural certificate promising payment on a due date." So instead of making direct payment, they could transfer the agricultural certificate to the suppliers of fertilizer, such as Sabic, or diesel oil, like petromin."
Al-Rasheed said the mode of payment adopted in the case of farmers could open new business opportunities for the private sector without building up the monetary pressure. "For instance, the contractors could receive promissory notes stating a fixed date for the payment of their dues. This will keep things moving while minimizing pressure on the government budget."
Referring to this future plans, Al-Rasheed said Golden Grass is in the process of setting up a peanut butter farm estimated to cost around SR 15 million at their facility in Hail. The Saudi Industrial Development Fund is studying their proposal and is expected to take an early decision on their loan application.
The proposed peanut butter plant is part of the firm's import substitution program. Currently, the Kingdom imports 2,500 tons of peanut annually. Since Golden Grass has its own peanut farm production of peanut butter is deemed to be a logical step in this direction. There is at present only one peanut butter plant in the Kingdom.
Sunday, November 05, 2006
Farmers welcome government decision on payments
Arab News 29 July 1999
Riyadh---Saudi farmers have welcomed the government's decision to release on Saturday dues amounting to over SR 773 million.
Turki Faisal Al-Rasheed, the president of Golden Grass, Inc. said that the payment of arrears for the agricultural season 1416H(1995-96) will stimulate the agricultural industry. His own farm at Hail produces olives, grapes, nectarines, apricots and plums. The company originally produce wheat.
The decision was taken in the light of the Kingdom's agricultural policy to encourage the production of crops that are not heavily dependent on water.
Subscribe to:
Posts (Atom)