DP World has signed a lease and collaboration agreement with UAE-based food producer IFFCO to develop an edible oil packing plant in the Berbera Economic Zone (BEZ) in Somaliland.
IFFCO Somaliland signed a 25-year lease with BEZ to develop a 300,000 sq. ft packing facility, with future expansion plans covering another 300,000 sq. ft. Once complete by the first half of 2023, the first phase of the edible oil plant will create hundreds of jobs for local citizens and attract foreign direct investment to Somaliland.
Suhail Albanna, CEO and managing director of DP World, Middle East and Africa, and IFFCO's executive director Rizwan Ahmed signed the lease.
DP World is developing the BEZ after investing in the Port of Berbera to create an integrated maritime, logistics, and industrial hub to serve the Horn of Africa.
Albanna said:“The decision by IFFCO to set up a plant is a major vote of confidence in the zone and a testament to our offerings. In fact, with the port, the economic zone and the one-stop-shop all under DP World, it will be like a home away from home for Dubai-based customers such as IFFCO.”
IFFCO operate 95 facilities, including several port-based manufacturing facilities worldwide.
Shiraz Allana, director and supervisory board member of IFFCO, said:“IFFCO continues to invest in the future of food and supply chains globally. The partnership with DP World demonstrates our commitment to the UAE's national food security strategy and facilitating global food trade. It also further enhances access to African consumer bases quickly and more efficiently.”
Feature Image: Suhail Albanna, CEO & Managing Director of DP World, Middle East & Africa, and Shiraz Allana, Director and supervisory board member of IFFCO. Image Credit: Supplied
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