Manufacturing

Kezad and Al Ghurair Foods sign lease for $272m projects

By Pramod Kumar

April 30, 2023, 5:16 AM

The projects will drive the UAE’s food production capabilities and enhance the country’s position as a regional hub

Khalifa Economic Zones Abu Dhabi (Kezad Group), a wholly-owned subsidiary of AD Ports Group, and Al Ghurair Foods, a part of UAE-based Al Ghurair Investment, have signed a 50-year land lease agreement for three food processing projects worth over AED1 billion ($272.31 million).

The agreement marks the first phase of Al Ghurair Foods division’s investments in Kezad, state-run WAM news agency reported.

The first two projects of Al Ghurair Foods, a manufacturer and supplier of high-quality food, will be the region’s first starch processing plant, in addition to one of the top broiler producers in the UAE in terms of capacity.

The third project, details of which are set to be announced later this year, will see the division’s involvement in the debut of Abu Dhabi Food Hub – Kezad, which will form a new supply market for the UAE.

Mohamed Al Khadar Al Ahmed, CEO of Kezad Group, said: “Al Ghurair Foods’ establishment of its plants will significantly strengthen the food supply chain and guarantee domestic supply, as well as exports from one of the region’s fastest-growing trade and industrial ecosystem.”

Ibrahim Al Ghurair, non-executive board director, Al Ghurair Investment, said the projects will produce key ingredients for the food industry, including enhanced protein production and reduced reliance on imported goods.