CP Group forms alliance with Bahrain's Al Salam Bank

CP Group has signed a strategic Memorandum of Understanding (MOU) with Thailand's Charoen Pokphand Group (CP Group).

With the agreement, Al Salam Bank enters the agricultural industry while the CP Group expands its business into the Middle East and North Africa (Mena) region.

Al Salam and CP Group will jointly identify suitable agribusiness ventures that will generate attractive risk-adjusted returns while playing a proactive role in addressing food security in the region.

Detailed feasibility studies will be conducted to gauge the viability in various target agribusiness sectors, including livestock, staple food, aquaculture and perishables.

The studies will also cover technical, financial, market and operational due diligence in order to identify target markets in the Mena. 

The proposed venture is envisioned to be an integrated Halal Food Company that will invest in farming, food processing, packaging, and distribution.

CP Group will provide a specialised management team with a good track record in the agricultural and food industry for this venture.