Reuters/Dubai
Qatar Islamic Bank signed to provide 1.6 billion riyals ($440 million) of financing to build a food processing and storage facility at the country's Hamad Port, as Doha strengthens its resistance against sanctions by other Arab states.
The 530,000 square metre facility, to be built by AlJaber Engineering in about two years, will include equipment to process and refine rice, raw sugar and edible oils, the bank said on Wednesday.
It will also feature rice silos, warehouses and edible oil storage tanks. Some of the food processed by the facility may be exported regionally or globally, and waste products from the facility will be used to create animal feed.
The government-backed project was planned before Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties with Qatar on June 5.
But the facility has become more important to Qatar's food security since the Gulf crisis began; the vast bulk of its food is imported, and the sanctions have halted transport of foodstuffs across the Saudi border.
UK airlines brace for another difficult summer
Ban on short-haul flights: Will it help lower carbon emissions?
Airbus 'further reduces' Beluga super-transporter carbon footprint
Qatar’s CPI inflation rises month-on-month in March: PSA
Ministry of Commerce and Industry introduces new services within distributors’ supply programme
QSE key index surpasses 10,600 levels on across the board buy support
‘US firms are vital partners in Qatar Airways’ focus on sustainability’, says al-Baker
Rajeswar nominated to IIA Board's Global Advocacy Advisory Council
Woqod Q1 year-on-year net profit jumps 12% to QR253mn
There are no comments.