Baladna Signs Agreement with Algerian National Investment Fund for Dairy and Milk Powder Production and MoU for Infant Milk Project

 

Algiers, Algeria, 30 September, 2024:

In a key development aimed at bolstering collaboration between Qatar and Algeria in agriculture and industry, Baladna Trading and Investment W.L.L., a subsidiary of Baladna Q.P.S.C., has entered into a shareholder agreement with the Algerian National Investment Fund. The agreement, signed on September 19, 2024, paves the way for establishing an integrated dairy and milk powder production project in southern Algeria, which is set to become one of the largest agricultural ventures in the region.

Additionally, Baladna signed a cooperation agreement with Algeria’s Ministry of Industry and Pharmaceutical Production to explore the feasibility of an infant milk production project. This new venture will be developed in partnership with the Algerian National Investment Fund and will complement the milk powder production project.

The signing ceremony was attended by prominent leaders including Mr. Moutaz Mohamad Raslan Al-Khayyat, Chairman of Baladna Q.P.S.C., and Algerian officials such as Minister of Finance Mr. Laaziz Fayed, Minister of Agriculture and Rural Development Mr. Youcef Chorfa, and Minister of Industry Mr. Ali Aoun. The event also saw participation from Ms. Souad Assous, Director of the Algerian National Investment Fund, and other senior officials.

The integrated dairy and milk powder production project aims to address Algeria’s growing demand for dairy products and enhance food security. Under the terms of the agreement, Baladna will hold a 51% stake, while the Algerian National Investment Fund will retain 49% ownership of the new company overseeing the project.

Mr. Kamal Mansouri, General Director of the National Investment Fund, and Mr. Ramez Mohamad Raslan Al Khayyat, Managing Director of Baladna, signed the shareholder agreement. The Memorandum of Understanding (MoU) for the infant milk project was signed by Ms. Amal Alam, General Director of Industrial Development at the Ministry of Industry, and Mr. Ramez Al Khayyat.

The infant milk project seeks to reduce Algeria’s reliance on imported powdered milk, with domestic demand ranging between 25,000 to 30,000 tons annually. The MoU outlines a comprehensive feasibility study to assess the project’s viability, focusing on technical, commercial, and financial aspects.

This collaboration is a significant milestone for Baladna as it expands into new markets while supporting Algeria's food security goals. The projects align with both nations' commitment to sustainable economic growth.

Source: AETOSWire

Contacts:
Aladdin Idilbi
A.idilbi@powerholding-intl.com