ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Foods on Friday announced the signing of 50-year land lease agreements for three mega food processing projects involving investments of over US$272 million (AED 1 billion).
KEZAD Group is a wholly-owned subsidiary of AD Ports Group and Al Ghurair Foods is part of Al Ghurair Investment, one of the largest diversified family business groups in the UAE.
The agreement will mark the first phase of Al Ghurair Foods division’s investments in KEZAD.
The first two projects are set to establish the region’s first of its kind Starch Processing Plant and Broiler producer.
The highest standards of food safety in line with International biosecurity standards will be followed.
The third project, details of which are set to be announced later this year, will see the division’s involvement in the debut of Abu Dhabi Food Hub – KEZAD, which will form an all-new supply market for the UAE.
The projects are set to drive the UAE’s food production capabilities and enhance the Emirates’ position as a regional hub driven by innovation and technology.
Abdullah Al Hameli, CEO Economic Cities and Free Zones, AD Ports Group, said, “As front runners in the UAE’s efforts in food security, we are delighted to welcome Al Ghurair Foods to KEZAD and the Abu Dhabi Food Hub as we continue to build the largest integrated ecosystem for trading of all food commodities in the region.”
He said, “We are confident that this agreement will drive the nation’s food security agenda and further enable KEZAD’s aim of improving domestic food supply and enhancing the nation’s capacity to respond to future challenges.”
CEO of KEZAD Group Mohamed Al Khadar Al Ahmed said, “We are excited to include Al Ghurair Foods to our expanding portfolio of clients in KEZAD’s Food Ecosystem.”
He said, “Al Ghurair Foods’ establishment of its first-of-a-kind plants in Abu Dhabi speaks volumes of KEZAD’s leading position as a regional and global trade hub.”
Group CEO, Al Ghurair Investment John Iossifidis said, “We are delighted to enter this agreement with KEZAD Group, reflecting Al Ghurair Investment’s commitment and drive to enhancing the Emirates’ food production capability and food security.”
Non-Executive Board director, Al Ghurair Investment Ibrahim Al Ghurair said, “As part of the nation’s fabric, Al Ghurair Investment remains committed to fostering meaningful change in pursuit of a sustainable future.”
CEO, Al Ghurair Foods division Djamal Djouhri said, “This agreement reinforces our commitment to enhancing domestic food supply, with a strong emphasis on adopting sustainable practices for improved food safety.”