Abu Dhabi Ports said on Monday that it has inked a 50-year land lease agreement with Anchorage Investment for the development of grain storage and processing plants at Khalifa Port.
The complex would be managed by National Feed, one of the largest Agro commodity processors in Abu Dhabi, according to an Abu Dhabi Ports statement.
Set to be developed on a 100,000-sqm plot, and with an initial design capacity of 300,000 metric tonnes, the complex will produce key food and animal feed ingredients by utilising grain resources to convert wheat into flour for baked goods, corn into starch and glucose, barley, corn, and wheat by-products into animal feed, the statement said.
It said the project would also house several grain silos capable of storing grain for an extended period, providing Abu Dhabi and the wider UAE with a long-term storage solution contributing to national food security.
Saif Al Mazrouei, Head of Ports Cluster, Abu Dhabi Ports, said National Feed's grain storage and processing facilities would expand the capabilities of the multi-purpose port while enabling clients to source ready-made, competitive products quickly.
The official handover of the land plot is scheduled in the first quarter of 2021.
(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021