Bahrain firm inks $50m Philippines farm deal
Manama, January 19, 2012
Bahrain’s Nadir and Ibrahim Sons of Hassan Group has signed a $50 million agriculture investment deal with AMA Group Holdings, Philippines.
The deal is part of a total project worth $250 million which was launched two years ago and aims to ensure food security and promote the agribusiness sector.
The Philippines has provided the group with public land to grow crops including sugar, rice and bananas among other fruits over a five-year-period, Group executive director Ibrahim Al Ameer told our sister paper Akhbar Al Khaleej.
Setting up agricultural projects in the Philippines follows instructions from His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa to meet Bahrain's food requirements and encourage the private sector to enter into joint ventures to this effect,' Ameer said. – TradeArabia News Service