April 2, 2013

Al-Dahra to invest US$400 million in Serbian agriculture

As the biggest investment in Serbian agriculture for decades, Abu Dhabi-based firm Al Dahra agreed to invest US$400 million to buy eight Serbian farm companies and develop them to grow and process food and fodder for export.

The agreement between Belgrade and Al Dahra on Thursday (Mar 28) came a day after the United Arab Emirate's Development Fund approved a separate US$400 million loan for Serbian agriculture, Serbia's Finance Ministry said.

"With US$400 million from Abu Dhabi's Development Fund and US$400 million from Al Dahra, we have secured a total of US$800 million for agriculture," Finance Minister Mladjan Dinkic, Dinkic, on a visit to Abu Dhabi, was quoted as saying by the ministry.

Serbia is looking to potential investors such as Russia, China and the UAE, while its traditional trading partners in the euro zone struggle with a debt crisis.