Qatar Exchange | Signing an agreement

Baladna announces it has signed agreement Baladna Q.P.S.C signs an agreement with the Algerian Ministry of Agriculture and Rural Development for the world’s largest integrated dairy farming and production project With a 3.5 billion USD investment. Herd to reach 270,000 with a production capacity of 1.7 billion liters of Milk yearly. Baladna Q.P.S.C. signed today a Framework Agreement with the Algerian Ministry of Agriculture and Rural Development whereby Qatar will develop the world’s largest integrated project aimed at producing powdered milk in southern Algeria. The agreement that outlines a total investment of $3.5 billion was signed by Ms. Souad Assous, Director General of Agricultural Investment and Land at the Ministry of Agriculture and Rural Development, and Mr. Mohamad Moutaz Al-Khayyat, Chairman of Baladna. The signing ceremony was attended by HE Mr. Youcef Cherfa, Minister of Agriculture and Rural Development in Algeria; HE Mr. Laaziz Fayed Fayed, Minister of Finance in Algeria; and His Excellency Mr. 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 the world’s 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.