RIYADH — Saudi Arabia and Oman have signed a Memorandum of Understanding (MoU) to establish a liquid fertilizers factory in the Kingdom to increase agricultural production.

Establishing the liquid fertilizers factory came to contribute in increasing the agriculture production to SR165,000, which also comes within the targets of Saudi Arabia's Vision 2030.

The MoU was signed between Saudi Arabia's Investment Ministry and the Al-Aflaj international company, a private sector entity in Oman.

The factory aims to produce liquid fertilizers that provide soluble crop nutrients.

The ministry said investments in the organic fertilizers project will contribute to accelerating agricultural production, and also meet the growing local and regional demand in a number of partner countries, such as Oman, GCC and African countries, in light of the abundance of arable land in the Kingdom.