Saudi Arabia's SALIC Ups Stake in Brazil's Minerva Foods

The Saudi Agricultural and Livestock Investment Company (SALIC) is fully owned by the Public Investment Fund. Asharq Al-Awsat
The Saudi Agricultural and Livestock Investment Company (SALIC) is fully owned by the Public Investment Fund. Asharq Al-Awsat
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Saudi Arabia's SALIC Ups Stake in Brazil's Minerva Foods

The Saudi Agricultural and Livestock Investment Company (SALIC) is fully owned by the Public Investment Fund. Asharq Al-Awsat
The Saudi Agricultural and Livestock Investment Company (SALIC) is fully owned by the Public Investment Fund. Asharq Al-Awsat

Saudi investment firm SALIC said on Wednesday it had increased its stake in Brazilian meat company Minerva Foods to 33.83% from 25.5%.

SALIC, the Saudi Agricultural and Livestock Investment Co, fully owned by the Public Investment Fund, was launched in 2012 to secure food supplies for Saudi Arabia through mass production and investment.

"Minerva Foods is one of the largest meat production companies in South America and the second-largest exporter in Brazil as it produces more than one million tons of meat annually. Minerva Foods mainly serves the demands of foreign markets and during this year, it has already exported 750,000 tons of red meat to more than 100 countries around the globe," the Saudi-based Company said in statement.

This comes as Saudi Arabia consumes 550,000 tonnes of red meat a year, of which 70% is imported.

Since its formation in 2012, SALIC has been operating in the agricultural and livestock investment sector and working in countries that have comparative advantages, enabling it to meet the objectives set by the food security program through foreign investments, the provision of food products, and working with relevant government agencies to stabilize food commodity prices in the Kingdom.

In 1992, the Brazilian Group began to invest in the industrialization of beef and beef products, offering high quality meat. It currently operates 25 factories in South America.

In addition to its operational units in South America, Minerva Foods also has commercial offices in 9 countries to provide differentiated service in these regions.



Hilton to Quadruple Its Presence in Saudi Arabia amid Tourism Surge

Carlos Khneisser, Hilton’s Vice President of Development for the Middle East and Africa (Asharq Al-Awsat) 
Carlos Khneisser, Hilton’s Vice President of Development for the Middle East and Africa (Asharq Al-Awsat) 
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Hilton to Quadruple Its Presence in Saudi Arabia amid Tourism Surge

Carlos Khneisser, Hilton’s Vice President of Development for the Middle East and Africa (Asharq Al-Awsat) 
Carlos Khneisser, Hilton’s Vice President of Development for the Middle East and Africa (Asharq Al-Awsat) 

Hilton, one of the world’s leading hotel groups, has announced plans to significantly expand its footprint in Saudi Arabia, aiming to reach 100 hotels by the end of 2025. This marks a fourfold increase from its current presence and would make the Kingdom Hilton’s largest market across Europe, the Middle East, and Africa.

Carlos Khneisser, Hilton’s Vice President of Development for the Middle East and Africa, revealed that the group currently operates 20 hotels in Saudi Arabia with around 6,500 rooms. An additional 77 hotels are under development across 14 Hilton brands, expected to add over 21,000 rooms over the coming years.

Khneisser noted that two-thirds of these developments are already under construction. He emphasized that Hilton’s growth strategy is closely aligned with Saudi Arabia’s Vision 2030, which aims to diversify the economy and attract 150 million visitors annually by the end of the decade.

Saudi Arabia has already surpassed its previous goal of 100 million visitors, originally set for 2030. Khneisser attributed this success to major tourism projects like The Red Sea and Rua Al Madinah, as well as global events such as Riyadh Season and Formula 1. Religious tourism, entertainment, and business travel are all contributing to strong hotel demand.

According to Khneisser, Hilton recently launched its midscale brand “Spark by Hilton” in Makkah, offering 329 rooms near the holy sites. Other upcoming projects include three resorts in Al-Ahsa, a Waldorf Astoria in Diriyah, and openings in Medina and Riyadh’s “The Avenues” complex. These developments are expected to create over 15,000 jobs, with half reserved for Saudi nationals. Current Saudization rates at Hilton properties exceed 55%.

He added that the company is also prioritizing training and hiring local talent through partnerships with institutions like Bunyan Academy, ZADK, and the Human Resources Development Fund. More than 55 people with disabilities have been employed across Hilton hotels in cooperation with the Ministry of Human Resources.

Sustainability and digital innovation are also key areas of focus. Hilton has reduced energy use in its Saudi properties by 42% and water consumption by 64%. Digital check-in and room key technologies are now in place at over 90% of its hotels, with AI tools being used to enhance guest experience in real time.

Khneisser concluded by highlighting Saudi Arabia’s growing reputation as a global destination for major conferences and events, saying the Kingdom led regional hotel revenue growth in early 2025.