The Public Investment Fund (PIF) of Saudi Arabia announced the establishment of Sawani Company “to enable the growth of the Saudi camel farming industry and actively contribute to its sustainable development,” the fund said in a press release.
The announcement formalizes the entry of the PIF into the global $7.8 billion industry. The newly-formed company aims to be “a leading producer of camel dairy products, supporting Saudi Arabia’s wider Food and Agriculture sector and helping to diversify the Saudi economy, in line with Vision 2030.”
The PIF says it has invested strategically in the Food and Agriculture sector to help diversify the Saudi economy, and support its unique produce industries. Among these investments are its creation of the Saudi Coffee Company, which promotes Saudi Khulani coffee beans and the Halal Products Development Company, which invests in the halal products sector. Since 2017, PIF has established 84 companies in 13 strategic sectors.
Sawani will “place sustainability at the center of all stages of production, distribution, and marketing, and raise awareness of the health benefits of camel dairy products among consumers. It will also showcase the unique history and cultural heritage of camel husbandry within Saudi Arabia. Camel milk is commonly known for its nutritional benefits, including high amounts of minerals and vitamins such as A, B, E and C. It is also rich in calcium, protein and anti-oxidants. Camel milk is also considered low in cholesterol and is easy to digest.”
“Saudi Arabia has extensive experience and knowledge of the camel dairy industry and enormous potential to expand its operational capabilities and wider ecosystem. These factors represent a competitive advantage across the entire supply chain, which, alongside investment, will enable significant growth of the industry, and eventually lead to the export of camel dairy products, which have many nutritional benefits, to regional and global markets,” Majed Al-Assaf, Head of Consumer Goods and Retail in the MENA Investments Division at PIF, said.
