NADEC CEO sees integration between animal feed and milling industries

Steen Hadsbjerg, CEO of NADEC

National Agricultural Development Co. (NADEC) sees integration between the animal feed segment of the company’s dairy farms and the investment opportunities available in the milling sector, CEO Steen Hadsbjerg told Argaam.

The flour mill, for which NADEC is planning to submit a bid as part of a consortium, produces animal feed and flour for consumers and commercial sectors.

The mill size will be determined upon mutual agreement of both parties, Hadsbjerg said, noting that consortium size will be also set upon mutual approval and after finalizing the related paperwork.

NADEC’s share in the consortium and the related financial impact will be announced after signing the final agreement, Hadsbjerg concluded.

The Saudi-listed company signed, on Jan. 11, 2021, a non-binding memorandum of understanding (MoU) to form a consortium to jointly bid for acquisition of a flour mill, Argaam reported.