Deal to develop 3,750Ha of agricultural land in the African country
Dubai Investments, the leading investment company listed on the Dubai Financial Market, and E20 Investment, an Abu Dhabi-based agribusiness investment company, recently signed a Memorandum of Understanding (MoU) to develop 3,750Ha of agricultural land in Angola, harnessing the potential of the country’s agricultural sector for sustainable growth and economic development.
E20 Investment specializes in investing in and operating farms and processing facilities across the globe, with a particular focus on Europe, Central Asia, and Africa.
The MoU is focused on the development of a vast area of leased out land located in Angola and the project’s objective is to cultivate rice and avocado crops, leveraging Angola’s fertile soil and favorable climate conditions to achieve substantial yields.
Thriving agricultural hub
Over the course of 18 months, the joint venture aims to transform the land into a thriving agricultural hub, a press communique stated.
“Dubai Investments is excited to partner with E20 Investment in this ambitious endeavor. E20 Investment brings extensive experience in managing large-scale agricultural projects, ensuring the implementation of cutting-edge technologies and sustainable farming practices,” stressed Khalid Bin Kalban, Vice Chairman and CEO, Dubai Investments.
“By combining our expertise with Dubai Investments’ vast network and resources, we are confident in our ability to create a successful agricultural project in Angola that will contribute to the country’s economic growth and employment opportunities,” commented Sultan Al Jaberi, CEO, E20 Investment.
