February 22, 2010

Halal Industries to build industrial park in south Wales

Private equity firm Halal Industries is looking to build an industrial park for Islamic products, including meat, in south Wales in the UK.

Company chairman, Mahesh Jayanarayan, said Wales was chosen as the project's site for its meat industries and affordable land prices. The firm was raising funds for the venture, which could launch in three to five years.

According to Jayanarayan, the industrial park could create up to 3,000 jobs and would make the UK a landmark halal centre for the region.

The park would provide services like storage freezers, a product packing centre, and raw material storage for manufacturers for food production. Meat selection and processing as well as research and development would also be offered.
 

The project will cost GBP150 million (US$232.3 million) and the firm plans to raise the fund in the capital markets, through government grants, and by finding partners like supermarket chains and multinational food manufacturers.
 

The UK's halal sector is worth between GBP2-4 billion (US$3.1-US$6.2 billion), the majority of which is imported, according to Jayanarayan.