Saudi Arabia is considering investing in Ukrainian ports

Ukraine and Saudi Arabia are establishing cooperation to attract business to reconstruction and investment.

During the meeting, they discussed investments in large infrastructure projects, the Ministry for Development of Communites and Territories of Ukraine reports.

Saudi Arabia has already allocated $500 million for the restoration of Ukraine. This is assistance in various areas: from humanitarian to economic and work with Ukrainian business.

“We have prospects – to attract investments to Ukraine from this region even more actively. Especially – in large infrastructure projects, where Saudi Arabia has expertise and connections,” said First Deputy Minister of Community Development Alena Shkrum.

Saudi Arabian business representatives were presented with projects with a total investment volume of half a billion dollars in such areas as energy, agriculture, infrastructure, etc.

Ports (development and modernization), as well as cooperation in the field of maritime transport, are also being considered among the main investment opportunities.

The ministry added that Saudi Arabian companies are already cooperating with Ukraine. For example, in September last year, SALIC became a co-owner of one of the largest Ukrainian agricultural holdings, Myronivskyi Hliboproduct (MHP), and acquired 12.6% of the company’s shares.

It should be noted that in May this year, Ukraine and Saudi Arabia are expected to hold a joint forum with the participation of business representatives from both countries.

Read also: Ukraine discussed with Saudi Arabia the expansion of the Grain from Ukraine program.