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Emerging World has signed a 30-year land lease agreement with the Abu Dhabi Khalifa Economic Zone (Kezad Group) to establish a manufacturing facility in the emirate to cater to local and regional markets.
Emerging World is the sole importer in the Middle East for the products of the PRAN-RFL Group, a leading manufacturer and exporter of food and beverages, agribusiness and plastics in South Asia.
Headquartered in Dhaka, Bangladesh, PRAN (National Rural Development Program) has pioneered agribusiness in this market since 1981 by offering farmers guaranteed prices.
A statement from Kezad said the new PRAN manufacturing plant will be built on an area of more than 42,000 square meters within Kezad at a total investment of AED110 million (US$30 million).
It said the new facility, which will be developed in several phases, will have direct access to AD Ports Group’s flagship Khalifa Port.
It added that with nearly one-third of the facility’s capacity supplying 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: “We are delighted to welcome Emerging World and drive the development of this new manufacturing facility within our expansive food trade ecosystem, an environment that ensures businesses can thrive in today’s thrive in a highly competitive market.”
The new facility will enable Emerging World to produce locally and export its products to free trade markets throughout the MENA region, namely Saudi Arabia, Kuwait, Bahrain, Qatar, Oman, Jordan, Egypt, Iraq, Lebanon, Morocco, Tunisia, Palestine, Syria, Libya and Yemen.
“The emerging world shares our view that the importance of securing national and regional supply chains aligns with our wise leadership’s vision of improving access to affordable, healthy diets for people in our communities,” he said.
Regarding the strategic deal, Emerging World managing director Hassan Mahbubu said it was mainly to boost the group’s exports to Middle Eastern countries.
“For us, the establishment of a production facility in Abu Dhabi is an important milestone in the expansion of our business. The initial investment of AED 60 million was used to set up the production facility to produce different food products including instant noodles, beverages with milk, PRAN branded Juice drinks and confectionary products.”
“Initially we expected production revenue to be around AED 160 million per annum,” he added.trade arab news agency
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