By Anwar Elshamy
Hassad Food Company, owned by Qatar’s Investment Authority, yesterday announced the establishment of a joint venture with a capital of $100mn in Sudan, as part of a planned $1bn agricultural investment in the African country.
According to the Hassad Food chairman, Nasser al-Hajri, the joint project was merely a beginning for an ambitious plan by his company to achieve food security for both Qatar and Sudan.
“This is just the beginning on which I hope we can build on to secure food for Qatar, Sudan as well as the world,” al-Hajiri told mediapersons yesterday.
Al-Hajri said that the Hassad Sudan venture plans to grow over 250,000 acres in the north of Sudan.
The announcement was made during a signing ceremony held yesterday at the Hassad Food head office. The Sudanese Minister of Agriculture and Forests, Abdul Halim al-Motaal represented his government, and the Hassad Food chairman, al-Hajri singed from the Qatari side.
The ceremony was also attended by the Sudanese Ambassador in Qatar Ibrahim Faqiri.
He indicated that the joint venture will begin with a 20,000 acre area, which he said, is expected to produce different crops and oil seeds from the coming winter in Sudan.
“We have finished with the soil and water tests and are ready to begin growing within two months,” he added.
The project is a joint venture between Qatar’s Hassad Food, which owns 75% of it, and the Sudanese government.
The Sudanese official said the establishment of the venture was a result of a one-year long negotiation between the two countries to start joint investment in agriculture.
“This is thanks to the directives by the leadership of the two countries,” he added.
Asked about the future phases of the project, the Sudanese official said the development of the project depends on the progress and revenues it will make in its phase one.
“The investment ceiling can even exceed $1bn. It depends on how things will go in the beginning,” he added.
To a question on the Hassad Food’s other projects, al-Hajiri said efforts are underway to set up similar joint ventures in Brazil, US, Turkey, and Argentina, adding that a big project was already launched in Australia.
Asked whether Qatari traders will be prioritised in terms of the company’s overseas productions, he indicated that the company’s marketing policies will be only ruled by profitability.
“No privileges will be given to Qatari traders,” he added. |
