President of Ukraine Volodymyr Zelenskyy arrived in Saudi Arabia to discuss the Ukrainian formula for peace and the return of prisoners and deportees, the Head of State said.
“Arrived in Saudi Arabia to continue our regular dialogue with His Highness Crown Prince Mohammed bin Salman Al Saud,” Zelensky wrote on his Telegram channel on Tuesday.
“The number one topic is the Formula for Peace. Last year in Jeddah, we held an effective meeting at the level of advisers on its implementation. We are now close to holding the first Peace Summit and look forward to continued active support from Saudi Arabia,” the president said.
According to Zelenskyy, topic number two is “the return of prisoners and deportees. Saudi leadership has already contributed to the release of our people. I am confident that this meeting will bring results.”
The parties also plan to discuss “promising areas of economic cooperation and Saudi Arabia’s participation in the restoration of Ukraine.”
MHP, Ukraine’s largest chicken producer, has signed a shareholder agreement to establish a joint venture with Desert Hills Veterinary Services Company Limited (DHV), a subsidiary of Tanmiah Food Company, a leading supplier of poultry and other meat products in the Middle East listed on the Saudi stock market.
“This partnership will allow DHV and MHP to join forces to invest over SAR 200 million (about $53 million at current exchange rates) in farms with a capacity of over 1 million parent flocks, which are expected to produce around 175 million hatching eggs per year, in a state-of-the-art hatchery and poultry feed mill,” MHP said in a statement to the London Stock Exchange on Friday.
Building on the foundation laid by the Memorandum of Understanding signed earlier this year, DHV will hold a 55% stake and MHP will hold a 45% stake in the joint venture.
According to the agroholding, this year MHP and DHV signed a memorandum of understanding to cement their partnership to join forces to develop farms with a capacity of more than 1 million birds, which will produce about 175 million hatching eggs annually. A modern poultry hatchery and feed mill will also be built in Saudi Arabia.
“The deepening of our alliance with Tanmia is a strategic turning point in MHP’s global reach. This partnership symbolizes our shared vision of integrating international expertise with local knowledge and ensuring that Saudi Arabia achieves its food security goals. Our collective strengths will catalyze transformational achievements in the poultry sector, driving innovation and setting new standards of excellence,” said John Rich, MHP Executive Chairman.
“Our collaboration with MHP means more than just a partnership; it reflects our commitment to strengthening Saudi Arabia’s food security system. By leveraging our local knowledge combined with global best practices, our portfolio of first-class products, services and solutions demonstrates our commitment (…) to the broader goals of Vision 2030,” said Zulfiqar Hamadani, CEO of Tanmiah Food Company (a subsidiary of DHV).
According to the report, the signing of the shareholders’ agreement is a crucial step in the establishment of the joint venture after obtaining the necessary approvals, including the permission of the General Authority for Competition of Saudi Arabia and other relevant jurisdictions.
The signing ceremony was attended by Sheikh Amr Al-Dabbagh, Chairman of the Board of Tanmiah Food Company (a subsidiary of DHV), as well as members of the Board and executive management of the company, representatives of the Saudi government, and Ambassador of Ukraine to Saudi Arabia Anatoliy Petrenko. MHP’s Board was represented by Executive Chairman John Rich and Managing Director Yevgeny Levterov.
Tanmiah Food Company is a leading supplier of poultry and other meat products in the Middle East, listed on the Saudi stock market. The company was founded in 1962. Its business model combines enterprises in agriculture, primary processing and marketing of products sold in Saudi Arabia, the UAE, Bahrain, Oman, Jordan and Kuwait. Tanmiah Food Company is the main franchisee of Popeyes Louisiana Kitchen.
As of June 30, 2023, Tanmiah operates 114 farms, as well as six hatcheries, two feed mills and four primary processing plants (slaughterhouses). It sells its products through a network of wholesalers, retailers and food outlets, as well as through its e-commerce platform.
MHP is the largest producer of chicken in Ukraine. It also produces grain, sunflower oil, and processed meat products. MHP supplies chilled chicken half-carcasses to the European market, which are processed, in particular, at its facilities in the Netherlands and Slovakia. In February 2019, the holding completed the acquisition of the Slovenian company Perutnina Ptuj.
In 2021, MHP earned $393 million in consolidated net profit against a net loss of $133 million in 2020, while its revenue increased by 25% to $2.37 billion. In the first nine months of 2022, the agricultural group reported a net loss of $269 million, compared to a profit of $377 million in January-September 2021, and its revenue increased by 14% to $1.88 billion.
In the first quarter of 2023, MHP’s revenue increased by 34.7% compared to the first quarter of 2022 to $745.60 million, and net profit amounted to $49.07 million compared to $108.25 million (at the same time, exchange rate gain amounted to $4.18 million compared to exchange rate loss of $95.32 million).
MHP’s founder, majority shareholder and chairman of the board is Ukrainian businessman Yuriy Kosyuk.
The BRICS member states have decided to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE to join the organization, South African President Cyril Ramaphosa said on Thursday.
“We have decided to invite Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE to become full members of BRICS,” Ramaphosa said in a speech at the BRICS summit.
The membership of these countries will become official on January 1, 2024, the South African leader explained.
Saudi Arabia will increase prices in August for all oil grades for US, Northwest Europe and Mediterranean customers as well as for some grades for Asian customers.Saudi Arabia raises oil prices slightly for US and Europe
The most significant price increases will be for customers from the Mediterranean (1-1.1%) and Northwest Europe (0.8%). For the US, Saudi oil will rise by 0.1%.
The cost of the main grade supplied to Asia, Arab Light, will increase by $0.2 per barrel next month. As a result, it will be $3.2 a barrel more expensive than the Oman and Dubai oil basket.
EUROPE, OIL, SAUDI ARABIA, US
Ukrainian industrial company Interpipe intends to increase supplies of pipes to Saudi Arabia and expand its presence in the Middle East.
According to the company’s Facebook post on Wednesday, Interpipe holds the economic front and continues to grow “no matter what.”
The other day, Interpipe, supported by its regular partner Al Sayed Center (ASCO), presented Ukrainian pipe products to construction companies and government organizations in Saudi Arabia, while informing them about the situation in Ukraine, the war, the company’s work in the new environment and the restructuring of supply chains.
Mr. Artem Artemov, Deputy Director for Middle East Sales, stated that Interpipe is well known in the macro-region as a supplier of quality pipes for the construction industry. Its products are used for air-conditioning systems, fire-fighting and as structural constructions.
“Saudi Arabia is one of the key countries for the company’s development and expansion in the region. We already have quite a history written over the past decade. Among the landmark projects in which Interpipe products have been used are the construction of the King Abdullah Financial District in Riyadh, the King Abdulaziz International Airport near Riyadh, the construction of the King Abdullah Financial District in Riyadh, and the construction of the King Abdullah International Airport near Riyadh. King Abdulaziz International Airport near Jeddah, Riyadh metro, buildings of Princess Nora bint Abdel Rahman University and King Fahd University of Oil and Minerals”, – noted Artemov, quoted by the press service.
It is specified that the business event was attended by 140 representatives of local construction and engineering companies, as well as the Ukrainian Ambassador to the Kingdom of Saudi Arabia Anatoly Petrenko.
“Let’s hold the economic front! Together we will overcome everything!”, the company’s information summarizes.
“Interpipe is a Ukrainian industrial company, producer of seamless pipes and railway wheels. The company supplies its products to over 80 countries all over the world via a network of commercial offices located in the key markets of the CIS, Middle East, North America, and Europe. The sales of railway products are carried out under the KLW brand.
Interpipe employs about 10 thousand people.
The company consists of five industrial assets: “Interpipe Nizhnedniprovsk Tube Rolling Plant (NTZ)”, “Interpipe Novomoskovsk Tube Plant (NMTZ)”, “Interpipe Niko Tube”, “Interpipe Vtormet” and the electric steelmaking complex “Dneprosteel” under the Interpipe Steel brand.
The ultimate owner of Interpipe Limited is Ukrainian businessman Viktor Pinchuk and his family members.
An exclusive interview of Interfax-Ukraine and Ukraine in Arabic with Ambassador of the Kingdom of Saudi Arabia to Ukraine Mohammed bin Suleiman al-Mashar
Text by:
Mohammad Farajallah (editor-in-chief of the agency Ukraine in Arabic)
Maksim Urakin (Interfax-Ukraine)
Saudi Foreign Minister Prince Faisal bin Farhan arrived in Kyiv on a surprise visit, met with Ukrainian President Volodymyr Zelenskyy and other officials, and agreed on a previously announced aid package. Are there any changes in Riyadh’s position on the war in Ukraine, especially since the Kingdom has been criticized for siding with Russia in the war against Ukraine?
Under the guidance of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud – God bless him – and under the guidance of His Royal Highness Crown Prince and Prime Minister Prince Mohammed bin Salman bin Abdulaziz – God bless him – the Kingdom is eager to provide humanitarian and emergency assistance to countries affected by natural or humanitarian disasters, and to provide support to all countries and peoples without discrimination or any other motives, based on the awareness of Saudi Arabia of the importance of its humanitarian role at the international level.
His Highness the Crown Prince pays great attention to the implementation of humanitarian efforts along with political efforts with various countries to achieve a peaceful solution to end the Russian-Ukrainian war as part of His Highness’s desire to achieve regional and global security, peace and stability.
Your Excellency, is a position of neutrality considered positive in such crises? What role can neutral states play?
The neutral and balanced position of Saudi Arabia in the Russian-Ukrainian war contributed to the success of the mediation led by His Highness the Crown Prince on purely humanitarian principles, which led to the release of ten foreign captives – citizens of the Kingdom of Morocco, the United States, the United Kingdom, the Kingdom of Saudi Arabia, Sweden and the Republic of Croatia, who were held captive by the armed forces of Russia.
In October 2022, the Kingdom announced a humanitarian aid package for Ukraine, which is in line with Saudi Arabia’s position in supporting countries and peoples that are prone to various crises. What role does Saudi Arabia play in the world in humanitarian matters?
The Kingdom’s $400 million humanitarian aid initiative for Ukraine, including power generators and medical supplies, is significant in light of the humanitarian conditions facing the Ukrainian people, especially during the harsh winter.
Previously, the Kingdom provided through the King Salman Humanitarian Aid and Relief Centre, the World Health Organization and the UN High Commissioner for Refugees $10 million worth of medical assistance and shelter materials intended for Ukrainian refugees in Poland.
In recent years, Saudi Arabia has provided over $96 billion worth of humanitarian aid to 156 countries.
The Kingdom of Saudi Arabia has always been among the top ten countries in the world for aid, and in 2021, the Kingdom ranked third in the world for humanitarian aid.
Your Excellency, may I ask what the Kingdom provided to the citizens of Ukraine who were on its territory during the war?
After the start of the Russian-Ukrainian war, the competent authorities in the Kingdom, by royal decrees and for humanitarian reasons, took the initiative to extend the visas of Ukrainian tourists, businessmen and families in the Kingdom for a period of three months with the possibility of extending them without charging any fees or fines.
His Highness the Crown Prince, Prime Minister Mohammed bin Salman held a telephone conversation with President of Ukraine Volodymyr Zelenskyy in October 2022 and reaffirmed the Kingdom’s position in support of everything that contributes to de-escalation and the country’s readiness to continue mediation efforts. Can we rely on foreign mediation to end the war in Ukraine?
Since the beginning of the war, the Kingdom has taken a balanced position regarding the Russian-Ukrainian crisis. It was welcomed by both countries, which have strong relations with Saudi Arabia in several areas. The Crown Prince seeks to use this relationship to reach a peaceful solution to the war.
Since the beginning of the crisis, His Highness has been mediating efforts between the two countries to reach a political solution to end the war as his contribution to maintaining international security and stability. Saudi Arabia supports international efforts to reduce tensions and escalation between Russia and Ukraine, as well as to initiate measures to ensure the restoration of stability and create conditions for negotiations leading to a peaceful and political solution to the crisis based on the Charter of the United Nations and the principles of international law.
Saudi Arabia was among 141 countries that voted in favor of a UN resolution to withdraw Russian troops from Ukraine. Can this position affect relations between Riyadh and Moscow?
The position of the Kingdom and its vote in support of the United Nations resolutions adopted regarding the Ukrainian crisis stems from the commitment to the need for all countries to comply with the Charter of the United Nations and the principles of international law and our complete rejection of any violation of the sovereignty of all countries. The Kingdom declared a clear position on the Russian-Ukrainian crisis, based on the principles of international law. It reaffirmed its support for all efforts aimed at resolving the Ukrainian crisis through dialogue and diplomacy, as well as continuing to work on the implementation of the agreements concluded between the parties concerned and approved by the Security Council in Resolution 2202 on regional security and conflict settlement in eastern Ukraine.
The visit to Kyiv of His Highness the Minister of Foreign Affairs was called historical. Do you agree with this characterization?
The visit of His Highness Foreign Minister Prince Faisal bin Farhan Al Saud to Kyiv and his meeting with Ukrainian President Volodymyr Zelenskyy is considered historic. On the one hand, this is the first visit of an Arab foreign minister to Ukraine since the Russian invasion of Ukraine, and on the other hand, the first visit of a Saudi Arabian foreign minister to Ukraine since the beginning of diplomatic relations between the two countries over thirty years ago.
His Excellency the President of Ukraine justifiably called it historic. In fact, we are very grateful to His Excellency for all his friendly statements about Saudi Arabia. I also hope that this visit will give a new impetus to intensify our mutual dialogue in order to develop bilateral relations.
Can you tell us the details of communication and negotiation?
Support by the Kingdom of everything that contributes to de-escalation, protection of civilians, a serious search for political solutions through negotiations, support for all international efforts aimed at resolving the political crisis, as well as opportunities for expanding cooperation between the two friendly countries and ways to support and develop them in many areas. In addition, we discussed the development of the situation in the regional and international arenas.
Can you tell us about the content of the agreements signed during the visit?
During the visit of His Highness Foreign Minister Prince Faisal bin Farhan Al Saud, two documents were signed in the President’s Office of Ukraine as documentation of the package of Saudi Arabian assistance to Ukraine in the humanitarian sphere, the decision to allocate a separate support package in the amount of $400 million.
Supervisor General of the King Salman Humanitarian Aid and Relief Centre Abdullah Al Rabeeah and Deputy Prime Minister for Reconstruction of Ukraine and Minister of Communities, Regions and Infrastructure Development Oleksandr Kubrakov signed a joint program of cooperation between the Ministry of Communities, Regions and Infrastructure Development the King Salman Humanitarian Aid and Relief Centre in the amount of $100 million. CEO of the Saudi Fund for Development Sultan Abdulrahman Al-Marshad and Ukrainian Energy Minister Herman Haluschenko signed a Memorandum of Understanding regarding a $300 million Saudi grant to finance oil derivatives.
