Baladna signs memorandum of cooperation with Suez Canal Authority to enhance food security in Egypt

Baladna Q.P.S.C. signed Tuesday a memorandum of cooperation with the Suez Canal Authority, aimed at enhancing collaboration in the field of food security. This agreement involves exploring the development of a substantial cattle farm with a capacity of 20,000 dairy cows, and reinforcing dairy production, as well as cultivating an extensive 113,000-hectare expanse in the New Valley Governorate “El Wadi El Gedid” to meet the project’s requirements for feed and agricultural products for both local consumption and export.
The signing ceremony took place in Cairo and was attended by His Excellency Dr. Mostafa Madbouly, the Prime Minister of Egypt, in addition to key representatives from Baladna, including members of the Board of Directors and the Executive Management, led by Ramez Al-Khayyat, Managing Director and Board Member of Baladna. The ceremony was also attended by HE Tariq Al-Ansari, the Qatari Ambassador to Egypt, Lieutenant General Mohamed Salman Al-Zamlout, Governor of New Valley, El Sayed El Quseir, Minister of Agriculture, Lieutenant General Hisham Amna, Minister of Local Development, and His Excellency Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority, and Lieutenant General Wissam Aldiasty, Advisor to the Chairman of the Authority.
The agreement covers the initial areas of cooperation for dairy production and manufacturing in Egypt, with an investment volume of up to $1.5 billion. It includes the development of a cattle farm with an initial capacity of 20,000 dairy cows, with an aim to produce an annual capacity of 300 million liters of fresh milk. Furthermore, it outlines the cultivation of 113,000 hectares of land in the New Valley Governorate “El Wadi El Gedid”, to supply the necessary fodder and agricultural products to meet the project's requirements, both for local use and export.
Following the memorandum's signing, His Excellency Dr. Mostafa Madbouly, the Prime Minister of Egypt emphasized that the agreement signifies the culmination of extensive efforts to strengthen economic relations between Egypt and Qatar. He commended the in-depth discussions and studies conducted over several months, leading to this significant milestone.
Dr. Madbouly highlighted the agreement's potential in supporting food security through dairy products, generating job opportunities for the youth in Egypt, and reducing the cost of external import using foreign currency. He also directed all relevant ministries to facilitate the necessary procedures to commence the practical steps to implement the memorandum of cooperation, reinforcing the government's unwavering support for the project's success, which aligns with Egypt's broader efforts in promoting food industry localization, agricultural development, land reclamation, as well as knowledge and technology transfer.
From his side, Ramez Al-Khayyat, Managing Director and Board Member of Baladna, said: "We are delighted to formalize this partnership between Baladna and the Egyptian Suez Canal Authority, which commences today with detailed discussions, comprehensive studies, and the development of a robust plan for the next phase. Our collective aim is to establish this new project as a fundamental pillar that significantly contributes to the growth of the agricultural sector and the enhancement of global food security. This challenge stands as one of the most vital issues confronting the world, prompting diverse nations and international organizations to adopt a range of measures to address it."
He further said, "We affirm Baladna’s unwavering readiness, as the largest dairy producer in Qatar. We stand fully prepared to invest in this project, drawing upon our world-class resources and expertise, and our unparalleled commitment to utilizing the best sustainable global practices."
From his side Lieutenant General Osama Rabie, Chairman of the Suez Canal Authority, emphasized that the Suez Canal is progressing towards diversifying its sources of income and utilizing its savings surplus within its allocated share in the state's general budget by entering partnerships for large scale projects that support the state's efforts towards enhancing food security and achieving self-sufficiency.
Additionally, Malcolm Jordan, CEO of Baladna, said: "We are eager to collaborate with the Suez Canal Authority on this promising project, as well as express our sincere gratitude for the Authority's constructive cooperation, which has paved the way for us to turn these discussions into a tangible and practical reality."
The agreement was signed by Major General Wissam Al-Diasti, Advisor to the Chairman of the Authority, and on behalf of Baladna Company, Malcolm Jordan, CEO of Baladna.