Amman: Jordan Capital and Investment Fund (JCIF) announced the signing of an investment agreement to acquire a minority stake in Sinokrot Poultry Farms (Sinokrot); one of the largest vertically integrated players in poultry farming and production in Jordan. The investment primarily aims to diversify Sinokrot’s operations by establishing a new feed additives manufacturing facility in Aqaba - in partnership with Jordan Phosphate Mines Company (JPMC) - while expanding existing operations.

Founded in 1962, Sinokrot specializes in poultry farming and production, leveraging over 60 years of proven experience and an extensive client base. The company provides a wide range of poultry products such as table eggs, hatching eggs, day-old chicks, grains like corn and soybean, animal feed, as well as vaccines and purifiers. Sinokrot operates through 12 farms across Jordan, in addition to one hatchery, bulk grain silos and one poultry feed factory. Over the years, Sinokrot succeeded in building a strong market position and brand name among local and export clients.

Alongside expanding current operations and capacity, Sinokrot and JCIF are partnering with JPMC to develop an industrial facility for the manufacture of phosphate-based feed additives - namely monocalcium phosphate (MCP) and dicalcium phosphate (DCP) - in Aqaba. This pioneering joint venture empowers Sinokrot to diversify its product offering and access new markets and distribution networks, consequently supporting its long-term competitiveness.

“Our investment in Sinokrot will enable the company to considerably boost its export sales, particularly with the new feed additives facility anticipated to export the majority of its output. This will create over 70 new employment opportunities drawn mainly from local communities, bringing Sinokrot’s total employment to around 440,” commented JCIF Chairman, Hani Al-Qadi.

“We are delighted to welcome JCIF as a significant shareholder in our company as we mutually seek to foster a genuine partnership built on trust, collaboration and cooperation. JCIF offers institutional credibility, solid strategic expertise and strong dependability to support our future plans,” said Sinokrot Poultry Farms Chairman, Bassam Sinokrot.

JCIF is wholly owned by 16 Jordanian banks and is the largest private-sector investment fund in Jordan, with a capital commitment of JOD 275 million (USD 388 million). “JCIF strives to invest in pioneering companies with opportunities for growth, development and expansion in Jordan and the region. JCIF has already invested in dynamic and promising sectors, notably in the fields of information and communications technology (ICT) and food security , including, most recently, the Aqaba Digital Hub and Al-Sheikh International for Food Manufacturing,” commented JCIF CEO, Faris Sharaf.

JCIF’s investment strategy is derived from its mandate to invest in Jordanian companies that have the capacity to generate employment opportunities with substantial export and regional expansion prospects, ultimately impacting the Kingdom’s economic development and unlocking its potential to build for the future.