April 8, 2011

Arab agri authority plans US$750-million investments 

Arab Authority for Agricultural Investment and Development (AAAID) has plans for US$750-million worth of investments over the next four years, said AAID Chairman Ali Bin Saeed Al Sharhan.

Ali Bin Saeed Al Sharhan said the investments would be in the fields of agriculture, food, poultry in Saudi Arabia, potatoes, corn and wheat in Egypt rice in Kazakhstan, in addition to various deals in cereals.

It also plans to establish a firm for agricultural and poultry products in the United Arab Emirates and another one for the production of soy and clover in Egypt.

He indicated at other plans for setting up an investment portfolio, making partnerships and agreements with strategic investors.

The authority, founded in 1976, is headquartered in Khartoum. Its regional bureau is based in Dubai.