US$40 million investment in joint venture with US-based Crop One Holdings
Emirates Flight Catering (EKFC) and Crop One will co-invest US$40 million to build the world’s largest vertical farming facility near Al Maktoum International Airport at Dubai World Central. The project is a joint venture with U.S.-based Crop One Holdings, the world’s leading vertical farm operator.
“This announcement is an important milestone for the Emirates Group, for Dubai, and for the UAE. This investment to build and operate the world’s largest vertical farming facility aligns with the UAE’s drive for more agricultural self-sufficiency,” stated HH Sheikh Ahmed Bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airlines and Group.
“Introducing the latest technology to our operations, we secure our own supply chain of high quality and locally-sourced fresh vegetables, while significantly reducing our environmental footprint. We are pleased to partner with Crop One, the industry’s leading grower, packer and distributor,” said Saeed Mohammed, Chief Executive Officer of Emirates Flight Catering.
“Our proven business model has demonstrated profitable commercial production longer than any other major vertical farmer,” said Sonia Lo, CEO, Crop One Holdings.
The construction of the facility is scheduled to start in November 2018 and will take approximately one year to complete. The first products are expected to be delivered in December 2019.
