QNA News

Hassad to Invest $500 Million in Sudanese Agricultural Sector

Doha, June 28 (QNA) - Hassad, a subsidiary of Qatar Investment Authority, announced its intention to invest $500 million in the Sudanese agricultural and food sectors, over the next three years.

This announcement was made after signing a memorandum of understanding (MoU) on Thursday with a Sudanese company specialized in the field of agriculture and food, in the Sudanese capital Khartoum, Hassad said in a statement.

Hassad CEO Mohamed Al Sadah commented on this occasion, "Weve 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 $500 million in the Sudanese food sector, by entering into partnerships with a number of local Sudanese companies" Al Sadah added.

Al Sadah concluded" We are currently working on identifying suitable business opportunities, as well as signing agreements, which are inline with Hassad's new strategy."

Hassad, Qatar's premier investor in the food and agribusiness has several investments in Qatar, Australia and Oman, and currently planning for future investments in several other countries. (QNA)