Dubai Investments and E20 Investments have announced the signing of a Memorandum of Understanding (MoU) that will pave the way for the development of 3,750 hectares of agricultural land in Angola.
The joint venture, aimed at bolstering Angola’s food security and economic growth, plans to cultivate an impressive 28,000 tons of rice and 5,500 tons of avocados within an ambitious 18-month timeframe.
The focal point of the MoU revolves around the extensive development of leased land located in Angola. Leveraging the country’s fertile soil and favorable climate conditions, the project aims to establish a thriving agricultural hub capable of producing substantial yields of rice and avocados. Over 18 months, the joint venture envisions transforming the vast expanse of land into a highly productive agricultural site, yielding an estimated 28,000 tons of rice and peaking at 5,500 tons of avocados.
Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, expressed his enthusiasm about the collaboration, stating, “Through this partnership, as well as the overall development of the area, the Group aims to enhance Angola’s food security. This endeavor will not only support the country’s agricultural productivity but also generate economic value for all stakeholders involved. With E20 Investment’s extensive experience in managing large-scale agricultural projects and implementing cutting-edge technologies and sustainable farming practices, we are confident that their expertise will play a pivotal role in maximizing the project’s efficiency, productivity, and profitability.”
Sultan Al Jaberi, CEO of E20 Investment, emphasized the significance of the MoU in promoting agricultural development in Angola, fostering economic diversification, and building a sustainable future. Al Jaberi stated, “This agreement reflects our commitment to investing in sustainable agribusiness opportunities globally. By combining our expertise with Dubai Investments’ vast network and resources, we are confident in our ability to create a successful agricultural project in Angola that will contribute to the country’s economic growth and employment opportunities. Both companies are dedicated to executing this project with the utmost professionalism, environmental responsibility, and positive social impact.”
The collaboration between Dubai Investments and E20 Investments marks a major milestone in Angola’s agricultural sector, as it not only underscores the country’s potential for agricultural growth but also highlights the importance of international partnerships in driving development. With the joint venture’s focus on maximizing productivity and utilizing advanced technologies, Angola’s food security goals are expected to receive a significant boost, further solidifying its position as a key player in the global agricultural market.