Al Faisal Holding launches initiatives to diversify business portfolio
14 Nov 2017 - 0:13
Al Faisal Holding, one of Qatar’s largest privately held diversified industry groups, has signed a memorandum of understanding with Kugu Logistics, a leading Turkish logistics services company, to cooperate across a number of investments.
These include a poultry farm, a fruit and vegetable production farm, a fresh juice production factory, a factory for dairy products, a factory for vegetable oils, and a rice milling factory.
Production estimates for the initial phase of the poultry farm located in Al Shahaniya, are 3.5 million chickens a year producing 80,000 eggs daily.
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.
“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,’ said Sheikh Faisal bin Qassim Al Thani, Chairman of Al Faisal Holding.
“ 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,” he added.
Sheikh Turki bin Faisal Al Thani, Board member of Al Faisal Holding, added: “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.”