Emerging World FZC Signs Land Lease Agreement With KEZAD Group
Umer Jamshaid Published January 24, 2023 | 08:45 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 24th Jan, 2023) Khalifa Economic Zones Abu Dhabi (KEZAD) Group announced that it has signed an agreement with Emerging World FZC, the sole importer of PRAN-RFL Group's products in the middle East region, to establish a Programme for Rural Advancement Nationally (PRAN) manufacturing plant catering to local and regional markets.
The AED 110 million facility, developed in multiple phases, will spread across 42,000 square meters in KEZAD, with direct access to AD Ports Group's flagship Khalifa Port. It will enable Emerging World FZC to locally produce and export its products to free trade markets throughout the Middle East and North Africa region, including Saudi Arabia, Kuwait, Bahrain, Qatar, Oman, Jordan, Egypt, Iraq, Lebanon, Morocco, Tunisia, Palestine, Syria, Libya and Yemen.
The land lease agreement with KEZAD Group has been signed for a period of 30 years. With almost a third of PRAN's production capacity catering to the local market and 70 percent being exported to regional markets, PRAN will play a vital role in ensuring food security in the region through Abu Dhabi.
Mohamed Al Khadar Al Ahmed, CEO of KEZAD Group, said, "KEZAD Group is delighted to welcome Emerging World FZC and enable the development of this new manufacturing facility within our expansive food trade ecosystem, an environment that ensures that businesses can thrive in today's competitive market.
Emerging World FZC shares our mission on the importance of securing national and regional supply chains, in line with the vision of our wise leadership to improve access to affordable healthy diets for people across communities."
Hasan Mahbub, Managing Director of Emerging World FZC, commented, "Our agreement with KEZAD Group aims to boost our export to Middle Eastern countries, and the establishment of the Emerging World FZC's manufacturing facility in Abu Dhabi is a significant milestone to expand our business. An initial investment of AED 60 million will be made to set up the manufacturing facilities, with production of different food products including instant noodles, milk-added drinks, fruit drinks, and confectionery products under the PRAN brand. Initially, we expect production revenue to be in the region of AED 160 million per annum."
Related Topics
Recent Stories
At least 10 people killed in Brazil fire: officials
Shahzaib Rind calls on Deputy Speaker Balochistan
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-le ..
DC Tharparkar inaugurates anti-polio campaign
HDA Mehran workers demand salaries
Taxila police nab motorcycle lifter gang
Inter-university weightlifting championship kicks off at SAU
Walk held in a series of enrollment campaigns
Team from Gaza mediator Egypt arrives in Israel for truce talks
Kids murders: IHC orders psychiatric examination of mother
Health minister credits PML-N for advancements in organ transplantation
Court grants interim bail to Azam Swati in cyber crime case
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago