June 7, 2024

Jordanian investment fund to obtain minority stake in major poultry producer Sinokrot

Jordan Capital and Investment Fund (JCIF) announced the signing of an investment agreement to acquire a minority stake in Sinokrot Poultry Farms, one of the largest vertically integrated players in poultry farming and production in Jordan.

The investment primarily aims to diversify Sinokrot's operations by establishing a new feed additives manufacturing facility in Aqaba, Jordan - in partnership with Jordan Phosphate Mines Company (JPMC) - while expanding existing operations.

Founded in 1962, Sinokrot specialises in poultry farming and production, leveraging over 60 years of proven experience and an extensive client base. The company provides a wide range of poultry products such as table eggs, hatching eggs, day-old chicks, grains like corn and soybean and animal feed, as well as vaccines and purifiers.

Sinokrot operates through 12 farms across Jordan, in addition to one hatchery, bulk grain silos and one poultry feed factory. Over the years, it succeeded in building a strong market position and brand name among local and export clients.

Alongside expanding current operations and capacity, Sinokrot and JCIF are partnering with JPMC to develop an industrial facility for the production of phosphate-based feed additives - namely monocalcium phosphate (MCP) and dicalcium phosphate (DCP) - in Aqaba. This pioneering joint venture empowers Sinokrot to diversify its product offering and access new markets and distribution networks, consequently supporting its long-term competitiveness.

"Our investment in Sinokrot will enable the company to considerably boost its export sales, particularly, with the new feed additives facility anticipated to export the majority of its output," said JCIF chairman Hani Al-Qadi. "This will create over 70 new employment opportunities drawn mainly from local communities, bringing Sinokrot's total employment to around 440."

"We are delighted to welcome JCIF as a significant shareholder in our company as we mutually seek to foster a genuine partnership built on trust, collaboration and cooperation,"  said Sinokrot Poultry Farms chairman Bassam Sinokrot. "JCIF offers institutional credibility, solid strategic expertise and strong dependability to support our future plans."

- Zawya