Emirati group will invest EUR 500 mln to develop biggest farm in Romania

Emirati group Al Dahra, one of the biggest international groups in the agriculture and food sector, plans to invest some EUR 500 million in Romania in the next five years. The group recently took over local company Agricost, which operates the biggest farm in Romania, in a transaction estimated at over EUR 200 million. The group will invest in developing its local agriculture business by acquiring more farmland in Romania and modernizing the existing machinery and technology. Its objective is to reach a yearly production of one million tons of grains and combined fodder by 2022. Al Dahra will also develop a grain collection point with silos with a total capacity of 2 million tons. It will also invest in the transport and logistics sector, planning to acquire an operator in the Constanta port that will allow it to export grain and import fertilizers. Moreover, it will also modernize the facilities in the Braila port. The Emirati group also plans to set up a livestock farm with a capacity of 150,000 animals of different species. The group announced its plans after a visit to Romania by Sheikh Hamdan bin Zayed Al Nahyan, a member of the ruling family in Abu Dhabi, whose Al Ain Holding also controls Al Dahra. Emirati Sheikh says his country wants to increase investments in Romania editor@romania-insider.com