Company aims to modernize industry, promote organic rice farming and improve farmers' quality of life
BANGKOK and HO CHI MINH, Vietnam, May 16, 2018 /PRNewswire/ -- Saba Industries Group, 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With its investment, Saba Industries Group is buying outdated and abandoned rice mills in Vietnam, Cambodia, Laos and Thailand and converting them into storage facilities with bio-energy rice dryers that can help combat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.
The company will also buy farmers' rice paddies, and it will supply farmers with equipment, seeds and organic fertilizer – all free of charge. Golden Grain Rice, a Saba Industries Group subsidiary, will distribute the rice to wholesalers throughout Southeast Asia and parts of Africa and the Middle East.
Additionally, Saba Industries Group's 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 healthcare services.
"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 Industries. "Farmers are the key to ensuring that rice production and quality keeps pace with demand. 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 Industries Group
Saba Industries Group, 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 underserved women and children worldwide. The foundation's three areas of focus are healthcare, education and human rights.