ShapeShapeauthorShapechevroncrossShapeShapeShapeGrouphamburgerhomeGroupmagnifyShapeShapeShaperssShape

Hassad Food Invests in Global Projects

by 5m Editor
1 June 2010, at 10:59am

QATAR - Hassad Food has announced plans to invest US$700 million in global agricultural projects, including poultry, dairy, beef and grains.

Hassad Food Company intends to invest between $500 million and $700 million this year for projects across the world as part of its mission to ensure food security for Qatar, chairman and managing director Nasser bin Mohamed Mubarak al-Fuhaid al-Hajri has said.

"Our five pillars are production and supply of rice, sugar, grain, meat (white and red) and animal feed," he explained after the company’s first ordinary general assembly meeting yesterday, 31 May, reports Gulf Times.

The countries and sectors identified in 2009 are Qatar (animal feed, flowers, poultry, logistics, greenhouses); Australia (sheep, grain); Brazil (poultry/beef, sugar, grain); Argentina (grain); Sudan (sugar, grain, animal feed); Turkey (meat, dairy, sheep grain); Cambodia, India, Pakistan (rice); Uruguay (rice, grain, meat) and Georgia (grain).

Mr al-Hajri explained: "Hassad Food, established in July 2008, has launched two good projects, in Qatar and Australia, respectively."

Hassad Qatar animal fodder, launched commercially in Qatar in 2009, is being expanded substantially this year and would see many-fold rise in sales and profitability.

Hassad has also commenced operations in Australia by forming a 100 per cent subsidiary company, acquisition of the first farm land and introduction of Awassi lamb breeding programme.

Mr al-Hajri added: "Similarly, we have established 100 per cent subsidiaries in Sudan and Turkey to facilitate targeted investment, and 2010 will be the year of execution of the strategic investment plan."

In Qatar, Hassad Food will be establishing a 300-million-riyal (QAR) poultry farm, which is to begin production two-and-a-half years from now, according to Gulf Times.

The QAR40-million cut flower production project is expected to commence in Qatar by January 2011.

"All the local investments in Qatar will be done by our subsidiary Hassad Qatar, which has already spent QAR35 million on the animal feed project," Mr al-Hajri said.

To a question why the company is not investing in the neighbouring Arab countries, he said that Hassad is looking at large scale projects which could only be implemented in Australia or Latin America.