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AFH holding group in Qatar joins Turkish Kugu Logistics to launch agri projects
One of Qatar’s largest privately held diversified industry groups, Al Faisal Holding signed a memorandum of understanding with Kugu Logistics, a leading Turkish logistics services company, to cooperate across a number of investments in a fruit and vegetable production farm, a fresh juice production factory and more such as a rice milling factory.
The production of consumer goods from these ventures is expected by the end of next year.
The fruit and vegetable production farm will use the most advanced scientific farming techniques with an estimated daily production capacity of 50 tons of fresh fruit and vegetables. Farming land will cover an area of 150,000 m2 during the initial phase and production of consumer goods will commence by the end of 2018.
Al Faisal Holding chairman Sheikh Faisal bin Qassim al-Thani said, “It is our pleasure to announce these various projects, as we continue to strive to develop and diversify in ways which will effectively and efficiently address the needs of the Qatari market."
"We are delighted to be working with Kugu, an experienced company with an impressive portfolio and specialists in this field. This collaboration goes hand-in-hand with our strategy of expanding our investments. By adding these significant projects to our growing investment portfolio, we will successfully enter the consumer goods industry and contribute still further to Qatar’s blossoming growth story.”
Al Faisal Holding board member Sheikh Turki bin Faisal al-Thani said, “Al Faisal Holding’s distinguished journey over the past fifty years has seen us lead projects, attract foreign investment, and become the partner of choice in the Qatari market for many international companies."
"The investment projects we have identified will help to meet the needs of the Qatari market and we are confident that they will successfully benefit all parties, including the Qatari consumer, God willing.”
Publication date: 11/14/2017
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