Yahoo News: Saba Industries to invest $100 mn in rice sector in India, Thailand

New Delhi, Nov 21 (IANS) Malaysia-based Saba Industries Chairman and CEO Malini Saba on Wednesday said the privately-held company will invest $100 million in the rice sector in India and Thailand, as it plans to export the staple by partnering with local farmers.

“We are looking at a $100 million investment between Thailand and India. And based on how much more money we need to pump in, we will do that in the next phase. We plan to start our first phase in Uttar Pradesh,” Saba told IANS during her visit to India.

The global exporter of agricultural commodities plans to enter warehousing and drying space in India’s rice sector. The Kuala Lumpur-based firm will set up about 10 warehouses in Uttar Pradesh and as many dryers with an aim to dry 1,000 tonnes rice per day.

“In the initial 2-3 years, we plan to focus on Uttar Pradesh, partnering with the farmers there. As we did in other south-east Asian countries, we plan to support the farmers in India with farm equipment and fertilisers for free and procure their rice and get it processed at local mills.

“To start with, we are looking at exporting 20,000 to 25,000 tonnes of rice, particularly Basmati, per month. We have a ready clientele in the US, Middle East and other parts of the world,” Saba said.

Farm equipment will help farmers plant and harvest paddy faster, she said.

The founder of the $650-million company also deals in mining of iron ore and gold.

“Transportation and warehousing are the major challenges in the agriculture sector in most countries like India. One of the things we discovered in India is that the drying capacity is quite limited despite the presence of a number of mills. We plan to get in large dryers with capacities ranging from 10,000 to 20,000 tonnes a month,” she said.

After Uttar Pradesh, the company will replicate the model in Andhra Pradesh and West Bengal and later to other states to scale up its operations in India.

–IANS

mgu/shs/sed

See link here: https://in.news.yahoo.com/saba-industries-invest-100-mn-rice-sector-india-134203073.html

Business Standard: Saba Industries to invest $100 mn in rice sector in India, Thailand

Saba Industries to invest $100 mn in rice sector in India, Thailand

IANS  |  New Delhi Last Updated at November 21, 2018 19:15 IST

 

Malaysia-based Industries Malini on Wednesday said the privately-held company will invest $100 million in the sector in and Thailand, as it plans to export the staple by partnering with local farmers.

 

“We are looking at a $100 million investment between and  And based on how much more money we need to pump in, we will do that in the next phase. We plan to start our first phase in Uttar Pradesh,” told IANS during her visit to 

 

The global exporter of agricultural commodities plans to enter warehousing and drying space in India’s sector. The Kuala Lumpur-based firm will set up about 10 warehouses in Uttar Pradesh and as many dryers with an aim to dry 1,000 tonnes per day.

 

“In the initial 2-3 years, we plan to focus on Uttar Pradesh, partnering with the farmers there. As we did in other south-east Asian countries, we plan to support the farmers in India with and fertilisers for free and procure their rice and get it processed at local mills.

 

“To start with, we are looking at exporting 20,000 to 25,000 tonnes of rice, particularly Basmati, per month. We have a ready clientele in the US, and other parts of the world,” Saba said.

will help farmers plant and harvest paddy faster, she said.

 

The founder of the $650-million company also deals in of iron ore and gold.

 

“Transportation and warehousing are the major challenges in the agriculture sector in most countries like India. One of the things we discovered in India is that the drying capacity is quite limited despite the presence of a number of mills. We plan to get in large dryers with capacities ranging from 10,000 to 20,000 tonnes a month,” she said.

 

After Uttar Pradesh, the company will replicate the model in and and later to other states to scale up its operations in India.

 

–IANS

mgu/shs/sed

 

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

 
First Published: Wed, November 21 2018. 19:12 IST
 

Saba Corporation Invests US $100 Million in Southeast Asia Rice Industry

Company aims to modernize industry, promote organic rice farming and improve farmers’ quality of life

 

May 2018 — Saba Corporation, a privately-held, manufacturer and global exporter of rice and other commodities, is investing US $100 million in Southeast Asia’s rice industry to help modernize the sector, promote organic rice farming and improve farmers’ quality of life. The investment will span two years and is perhaps one of the largest investments in Southeast Asia’s rice industry.

 

With its investment, Saba Corporation is buying outdated and abandoned rice mills in Vietnam, Cambodia, Laos and Thailand and converting them into storage facilities with bio-energy rice dryers that can help combat the effects of climate change.

 

Saba Corporation will also buy farmers’ rice paddies and supply farmers with equipment, seeds and organic fertilizer – all free of charge. This is a sea change from the centuries-long practice of farmers being forced to purchase everything necessary to farm, leaving them with mounting debt and continuing the cycle of poverty. Saba Corporation also trains farmers in organic farming.

 

Golden Grain Rice, a Saba Corporation subsidiary, will process the farmers’ rice and distribute it to wholesalers throughout Southeast Asia and parts of Africa and the Middle East.

 

In addition, Saba Corporation’ philanthropic arm, Saba Family Foundations, plans to build and operate schools and health clinics in farming communities that have no access to basic education and health-care services. The schools and clinics will be staffed by local instructors, doctors and nurses who know the communities well and speak the language.

“Rice is a major food staple all over the world, and consumption is growing rapidly every year, especially in non-Asian regions such as Africa and the Middle East,” said Malini Saba, Founder and Chairman of Saba Corporation. “  Farmers are the key to ensuring that rice production and quality keeps pace with demand. But the old way of farming puts farmers and their families at risk. Helping farmers reduce their debt, improve their lives and farm organically is the only way the rice industry can survive and thrive. Moreover, helping people achieve economic stability is the right thing to do.”

About Saba Corporation

Saba Corporation, founded in 1996 by entrepreneur and philanthropist Malini Saba, is a privately-held company that operates agricultural commodities, mining, ship breaking and hospitality businesses in South and Southeast Asia, Australia and Africa.

 

About Saba Family Foundations

Saba Family Foundations was founded in 2002 by entrepreneur and philanthropist Malini Saba to focus on the needs of under-served women and children worldwide. The foundation’s three areas of focus are health-care, education and human rights. The foundation has undertaken numerous projects, including: partnering with Stanford Medical Center to train physicians from developing countries; distributing preventative health information on HIV/AIDS, immunizations, gastric and reproductive health; providing vocational education for women in Togo, West Africa; and supporting human rights issues around the world.

 

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The Nation: Saba Industries pumping $100m into modernisation of SE Asia’s rice sector

Saba Industries, a privately held producer and global exporter of rice and other commodities, is investing US$100 million (Bt3.18 billion) in Southeast Asia’s rice industry to help modernise the sector, promote organic rice farming and improve farmers’ quality of life. 

 

The investment will span two years and is perhaps one of the largest investments in the region’s rice industry.

 

With its investment, India-headquartered Saba Industries is buying outdated and abandoned rice mills in Thailand, Vietnam, Cambodia and Laos and converting them into storage facilities with bio-energy rice dryers that can help combat the effects of climate change.

 

Read the original article here.