UAE-based Al Dahra Invests US$500 Million In Romania
Fahad Shabbir (@FahadShabbir) Published September 24, 2018 | 06:15 PM
Al Dahra has announced that following its recent acquisition of Agricost and Braila Island, the largest consolidated farm in Europe, the company plans on investing an additional US$500 million in Romania over the coming five years, in various sectors.
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 24th Sep, 2018) Al Dahra has announced that following its recent acquisition of Agricost and Braila Island, the largest consolidated farm in Europe, the company plans on investing an additional US$500 million in Romania over the coming five years, in various sectors. This announcement coincides with a visit to Romania by a delegation comprising the executive leadership team from Al Dahra. During the visit, several meetings and discussions with high ranking officials in the country were held.
Regarding farming investments, Al Dahra will look at acquiring additional farming land in Romania and will invest in modernising the existing portfolio of agricultural machinery and technology. The target is to reach a combined annual production of one million metric tons of Grains and Combined Feed, by the year 2022. In parallel, a grains collection hub with silos will be established, with the capacity to handle two million metric tons of different grain varieties, produced by both Al Dahra and non-Al Dahra Romanian farms. The grains hub will facilitate strategic inventory creation, stock rotation and international trading. Furthermore, and to facilitate the processing and distribution of the forage yield, five fodder dehydration and pelleting plants will be established.
From a logistics and supply chain investments standpoint, Al Dahra plans on acquiring a logistics operator at Constanta Port to facilitate the export of grains, and the import of fertilisers. Further, it will establish a specialised fertiliser company, in charge of importing fertilisers into Romania and trading in neighbouring markets with an expected volume of 350 thousand metric tons annually.
Al Dahra will also undertake the upgrading of the harbour loading facilities at Braila Island to allow increased capacity for goods and vessels traffic.
It is also part of Al Dahra’s plan to make investments in the livestock sector, by establishing a barn with the capacity to accommodate a herd of 150 thousand heads of various livestock species. Also, Al Dahra will pursue other investments that aim at creating an integrated value chain within the agribusiness in Romania, including factories and pack houses as well as other value-added services depending on the business requirements.
The Vice Chairman and Co-Founder of Al Dahra, Khadim Al Darei, said, "Following the addition of Braila Island to our global portfolio of farming projects, Al Dahra’s investment plans expand beyond farming to include investments in different value-added services. Such investments will benefit Romanian farmers, will create new job opportunities for Romanian citizens and will improve the reach of Romanian-grown products to international markets by leveraging Al Dahra’s network, hence boosting the domestic farming and logistics sectors. Most importantly, investments will, in turn, contribute to achieving long-term food security for Romania, creating a win-win scenario for all parties."
Al Dahra’s investment plan will be executed in a phased approach over the coming few years and will contribute to Al Dahra’s strategy to fulfill the Abu Dhabi Government’s long-term food security vision, as well as equally contributing to the diversification of the company’s farming footprint, expanding its product offering and serving its growing global customer base.
Related Topics
Recent Stories
Selection committee dissolved over Pakistan women cricket team's poor performanc ..
Punjab CM Maryam Nawaz in police uniform at Chung police center
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
Today Gold Rate in Pakistan 25 April 2024
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
Spain PM Sanchez says weighing resignation after wife's graft probe
Tennis: ATP/WTA Madrid Open results - 1st update
Long-lost Klimt portrait auctioned off for 30 mn euros
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