Qatar's food giant announces investment of 500 mln USD in Sudan
"Over the next three years, we plan to invest about 800 million dollars in the Sudanese food sector, by entering into partnerships with a number of local Sudanese companies," said Mohamed Al Sadah, chief executive officer of Hassad.
Qatar maintains strategic relationships with Sudan, supporting the country on many issues, especially over Darfur region.
The announcement came after Hassad, the wholly owned subsidiary of Qatar Investment Authority, signed a mutual agreement with a Sudanese company on the agricultural and food cooperation, the Qatar-based English newspaper Gulf Times reported.
DOHA, June 29 (Xinhua) -- Qatar's Hassad Food has announced its plan to invest 800 million U.S. dollars in the agricultural and food sector in Sudan over the next three years, local media reported Friday.
Established in 808, Hassad is Qatar's premier investor in the food and agri-business sectors.
Meanwhile, Sudan supported the Kuwaiti mediation efforts in the ongoing Gulf crisis, in which Saudi Arabia, Bahrain, the United Arab Emirates and Egypt cut diplomatic ties with Qatar, accusing it of supporting terrorism and extremism, which Doha has repeatedly denied.