Siberian grain firm eyes Saudi Arabian joint venture

Siberian Agrarian Holding Group, a privately owned Russian grain firm, is in talks to create a joint venture to grow Russian grain for supply to Saudi Arabia.

Negotiations are ongoing, and the company is also interested in the grain markets of Iran and Iraq, which can be reached via the Volga river, said Pavel Skurikhin, chairman of Siberian Agrarian Holding Group.

Skurikhin said his company was also considering a share issue in the autumn of 2010 to raise funds for various projects.

He also said the company is partnering Japanese trading firm Itochu Corp in executing a contract to supply 1,000 tonnes of its feed wheat to Taiwan and that it plans to increase monthly volumes to 5,000 tonnes.