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Arasco, Cargill to set up sweeteners plant in Saudi Arabia

Saudi-based Arabian Agricultural Services Co (Arasco) has agreed with the global producer and marketer of food and agricultural services, Cargill to set up its first starches and sweeteners joint venture in the kingdom. Under the terms of the deal, Arasco will hold an 80% stake in the JV, along with management control. The new firm, called Middle East for Food Solutions Co (Mefsco), will produce starch-based products primarily for the GCC region, Yemen, Iraq and Jordan market.