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    Russia's Ingushetia Ready to Offer Joint Investment Projects to Riyadh

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    The Republic of Ingushetia in Russia's North Caucasus is looking south to Saudi Arabia, ready to propose a number of joint investment projects.

    NALCHIK (Sputnik) The authorities of Russia's Republic of Ingushetia are ready to propose a number of joint investment projects to Saudi Arabia, as well as discuss issues related to supplies of agricultural products to the kingdom, the press service of the republic's administration told Sputnik.

    "Lately the delegations of Ingushetia have visited Saudi Arabia twice — in November 2016 and April 2017. During this visits, the issues of enhancing cooperation with Ingushetia in trade, industry and agriculture were discussed with the Saudi ministers… Some of these projects [presented during the visit in April], the region is ready to offer the Saudis now," the press service's representative said.

    The spokesperson added that these projects included intensive agricultural initiatives, which would include the production of eco-friendly halal meat, as well as the construction of greenhouses and poultry factories.

    The region's press service noted that the Saudi ministers were particularly interested in developing the agricultural industry due to the fact that corn and other agricultural products could not be produced in the kingdom due to its lack of water.

    In April, a delegation of Ingushetian businessmen visited Saudi Arabia and presented more than a dozen investment projects which could be implemented in the region. The delegation managed to reach an agreement on the supply of a trial batch of agricultural products to the kingdom. In particular, Saudi Arabia is importing Ingushetia-made honey at the moment.

    On Monday, Kremlin aide Yury Ushakov said that Saudi King Salman Al Saud would visit Moscow on October 5. In September, a source told Sputnik that the King was expected to hold a meeting with Russian President Vladimir Putin, during which the sides would sign a package of agreements.


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    investment projects, Russia, Saudi Arabia, Ingushetia
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