After performing a laudable role in ensuring uninterrupted food supply to local markets after imposition of siege against Qatar last year by taking a number of initiatives swiftly, Hassad has now announced its $500m investment plans in Sudan’s agricultural and food sectors.
Hassad, a fully owned subsidiary of Qatar Investment Authority, is embarked on the mission to identify and invest in attractive assets in the global food and agriculture value chains as well as build a strong portfolio through Hassad’s sector expertise, lasting partnerships, and long-term investment approach.
Hassad has diversified investments in Qatar, Australia and Oman with potential future investments in several other places. Through its various subsidiaries, the company produces livestock, grains, fodder, poultry products, vegetables, rice, dates and many other products.
According to newly announced plan, Hassad will invest $500m in the Sudanese agricultural and food sectors over the next three years. The announcement was made after signing a memorandum of understanding (MoU) with a Sudanese company specialised in the field of agriculture and food.
Hassad CEO Mohamed Al Sadah commented on this occasion, “We have signed the Memorandum of Understanding (MoU) with the Sudanese side in line with Hassad’s new vision and strategy to become a successful strategic investor in the global food and agriculture value chains.”
“Over the next three years, we plan to invest around $500m in the Sudanese food sector, by entering into partnerships with a number of local Sudanese companies. We are currently working on identifying suitable business opportunities, as well as signing agreements, which are in line with Hassad’s new strategy,” Al Sadah added.
A report appeared in March 2018 indicates that the local food production of Hassad has increased significantly as the company is producing 16 million chickens, 120 million eggs and 8,000 tonnes of vegetables in a year to ensure the food security in the country.
For the vegetables’ sector, Hassad has increased the cultivated land since the beginning of the blockade, to reach 8,000 tonnes of vegetables per year. For fodder sector, Hassad increased the cultivated lands in Hassad’s fodder farms, to increase the production up to 10,000 tonnes annually.
Hassad Food CEO, Mohamed Al Sadah, recently said, “We aim to support the country’s food security efforts, by expanding our local and international investments. We conducted an in-depth research on the local market needs from the three sectors, developed suitable plans and started implementing them to support in satisfying those needs.”
