Baladna signs agreement with Algerian Ministry of Agriculture and Rural Development for integrated dairy farming and … – The Peninsula

Baladna signs agreement with Algerian Ministry of Agriculture and Rural Development for integrated dairy farming and … – The Peninsula

Algeria: Baladna Q.P.S.C. signed a Framework Agreement with the Algerian Ministry of Agriculture and Rural Development for the world’s largest integrated dairy farming and production project aimed at producing powdered milk in southern Algeria. The agreement that outlines a total investment of $3.5bn was signed by Souad Assous, Director General of Agricultural Investment and Land at the Ministry of Agriculture and Rural Development, and Mohamad Moutaz Al Khayyat, Chairman of Baladna. The signing ceremony was attended by H E Youcef Cherfa, Minister of Agriculture and Rural Development in Algeria; H E Laaziz Fayed Fayed, Minister of Finance in Algeria; and H E Abdelaziz Ali Al Nama, the Qatari Ambassador to Algeria, among other dignitaries.

This venture, held 51% by Baladna and 49% by the Algerian State through the National Investment Fund, will develop large scale vertically integrated dairy operation in Algeria. This groundbreaking project will cover 117,000 hectares and will be segregated into three hubs, each comprising of an arable farming operation, a dairy and beef farming operation, and a powdered milk manufacturing facility.

Mohamad Moutaz Al Khayyat, Chairman of Baladna, commented on this agreement, saying: "We are delighted to formalize this partnership between Baladna and the Algerian Ministry of Agriculture