The UAE’s KEZAD, Al Ghurair Foods sign AED 1 bn agreement for “mega” food projects: AD Ports Group subsidiary Khalifa Economic Zones Abu Dhabi (KEZAD) and regional foodstuffs giant Al Ghurair Foods have signed 50-year leases for three “mega” food projects totaling AED 1 bn in investments, according to a press release (pdf). The milestone kicks off the first phase of Al Ghurair’s investments in KEZAD, the statement says. No timeline for the construction of the plants was disclosed.

The projects: One of the projects will see Al Ghurair establish the region’s first starch processing plant, while the other will establish a broiler producer that is set to be a local leader in terms of capacity, the release explains. Details about the third project will be announced later this year, though the statement notes that it will be one of the projects involved in the debut of Kezad’s Abu Dhabi Food Hub.

A boon for the local agriculture sector: The projects will see Al Ghurair Foods partner with local farmers to create “sustainable business models in support of the overall ecosystem,” the press release said.

Tags: