Qatar to invest $500-700 mln in food security projects

20:51, June 01, 2010      

Email | Print | Subscribe | Comments | Forum 

Gas-rich Qatar has planned to earmark 500 million to 700 million U.S. dollars this year to buy and lease farmland across the world for wheat and livestock production to guarantee its food security.

Hassad Food Company, operated by the emirate's sovereign wealth fund, will select countries to honor that strategy, which was also pursued by its Gulf peers that are heavily reliant on food imports.

"Our five pillars are production and supply of rice, sugar, grain, meat and animal feed," chairman Nasser bin Mohamed Mubarak al-Fuhaid al-Hajri was quoted as saying by the Gulf Times on Tuesday.

Initiated destinations for the above-mentioned investment includes Argentina, Australia, Brazil, Cambodia, Georgia, India, Turkey, Sudan, among others.

Hassad Food, founded in 2008, formed a Sydney-based subsidiary last year for the acquisition of farmland and introduction of Awassi lamb (large framed, fat tailed sheep mostly grown in Mideast countries) breeding program.

"Similarly, we have established subsidiaries in Sudan and Turkey to facilitate targeted investment, and 2010 will be the year of execution of the strategic investment plan," al-Hajri said.

Gulf nations have beefed up efforts to buy and lease farmland in developing countries and export produce back to ensure food supply after inflation reached double-digit levels in 2007 and 2008.

Qatar, the world's top liquified natural gas exporter, saw its inflation soaring to a record 15.2 percent in 2008 and containing that momentum remains a headache for the authorities. Enditem

Source: Xinhua


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • A ceremony is held in Taipei, southeast China's Taiwan, on Sept. 28, 2011, to commemorate the 2,562nd birthday of Confucius (551-479 BC), a Chinese thinker, educationist and philosopher. (Xinhua/Wu Ching-teng)
  • The world's first Boeing 787 Dreamliner for delivery arrives at Haneda airport in Tokyo, capital of Japan, on Sept. 28, 2011. The Boeing 787 Dreamliner, whose buyer is All Nippon Airways (ANA), will implement a flight of ANA on Oct. 26 from Tokyo's Narita Airport to Hong Kong in south China. (Xinhua/Ji Chunpeng)
  • A Libyan National Transitional Council (NTC) fighter shows what is believed to be human jawbone found inside a mass grave near Abu Salim prison in Tripoli, Libya, Spet. 27, 2011. The NTC on Sunday said they had found a mass grave containing the bodies of 1,270 people killed by Gaddafi's security forces in a 1996 massacre at Abu Salim prison in southern Tripoli. (Xinhua/Li Muzi)
  • Rescue workers and local residents search for survivors after a building collapsed in old Delhi, India, Sept. 27, 2011. At least 10 people were killed and 35 injured when an old three-storey building collapsed. More than a dozen people are still feared trapped under the debris, police said. (Xinhua/Partha Sarkar)
  • A visitor has flying experience in the windmill castle of Jinshitan National Holiday resort in Dalian, northeast China's Liaoning Province, Sept. 27, 2011. The castle is a 23-meter-high building with 21 meters in diameter. The castle uses wind tunnel to make objects floating in the air. It is the first indoor stadium in China, which enables people to have flying experience. (Xinhua/Zhang Chunlei)
  • Forces of the Libyan National Transitional Council (NTC) shoot shells to the fighters loyal to Muammar Gaddafi outside Bani Walid, Libya, Sept. 27, 2011. Bani Walid is still occupied by fighters loyal to Muammar Gaddafi. (Xinhua/Hamza Turkia)
Hot Forum Discussion