Baladna signs memorandum of cooperation with Suez Canal Authority in Egypt

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Doha, Qatar: Baladna signed yesterday a memorandum of cooperation with the Suez Canal Authority, aimed at enhancing collaboration in the field of food security. This agreement involves exploring the development of a substantial cattle farm with a capacity of 20,000 dairy cows, and reinforcing dairy production, as well as cultivating an extensive 113,000-hectare expanse in the New Valley Governorate “El Wadi El Gedid” to meet the project’s requirements for feed and agricultural products for both local consumption and export.

The signing ceremony took place in Cairo and was attended by H E Dr. Mostafa Madbouly, the Prime Minister of Egypt, in addition to key representatives from Baladna, including members of the Board of Directors and the Executive Management, led by Ramez Al Khayyat, Managing Director and Board Member of Baladna. The ceremony was also attended by H E Tariq Al Ansari, the Qatari Ambassador to Egypt, Lieutenant General Mohamed Salman Al Zamlout, Governor of New Valley, El Sayed El Quseir, Minister of Agriculture, Lieutenant General Hisham Amna, Minister of Local Development, and Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority, and Lieutenant General Wissam Aldiasty, Advisor to the Chairman of the Authority.

The agreement covers the initial areas of cooperation for dairy production and manufacturing in Egypt, with an investment volume of up to $1.5bn. It includes the development of a cattle farm with an initial capacity of 20,000 dairy cows, with an aim to produce an annual capacity of 300 million liters of fresh milk.

Following the memorandum’s signing, Dr. Mostafa Madbouly, the Prime Minister of Egypt emphasised that the agreement signifies the culmination of extensive efforts to strengthen economic relations between Egypt and Qatar.

From his side, Ramez Al Khayyat, Managing Director and Board Member of Baladna, said: “We are delighted to formalize this partnership between Baladna and the Egyptian Suez Canal Authority, which commences today with detailed discussions, comprehensive studies, and the development of a robust plan for the next phase. Our collective aim is to establish this new project as a fundamental pillar that significantly contributes to the growth of the agricultural sector and the enhancement of global food security. This challenge stands as one of the most vital issues confronting the world, prompting diverse nations and international organizations to adopt a range of measures to address it.”

He further said, “We
affirm Baladna’s unwavering readiness, as the largest dairy producer in Qatar. We stand fully prepared to invest in this project, drawing upon our world-class resources and expertise, and our unparalleled commitment to utilizing the best sustainable global practices.” Additionally, Malcolm Jordan, CEO of Baladna, said: “We are eager to collaborate with the Suez Canal Authority on this promising project, as well as express our sincere gratitude for the Authority’s constructive cooperation, which has paved the way for us to turn these discussions into a tangible and practical reality.”

The agreement was signed by Major General Wissam Al-Diasti, Advisor to the Chairman of the Authority, and on behalf of Baladna Company, Malcolm Jordan, CEO of Baladna.