Algeria, Qatar to establish 3.5 bln USD worth milk powder production project


  • World
  • Thursday, 25 Apr 2024

ALGIERS, April 24 (Xinhua) -- Algeria and Qatar on Wednesday signed an agreement worth 3.5 billion U.S. dollars to establish an integrated milk powder production project in southern Algeria, the official APS news agency reported.

The agreement was signed by Souad Assous, director general of the Agricultural Investment Department at the Algerian Ministry of Agriculture and Rural Development, and Mohamad Moutaz Al-Khayyat, chairman of Qatari dairy company Baladna.

The project would span 117,000 hectares and be divided into three clusters, including farms for cereal and fodder production, facilities for cow breeding, milk and meat production, as well as a milk powder production unit.

Once operational, the project is expected to create 5,000 direct job opportunities and meet 50 percent of Algeria's demand for milk powder, fulfill local market needs for red meat, and contribute to the expansion of the national cattle herd.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Biden secretly gave Ukraine permission to strike inside Russia with US arms, Politico reports
Slovak Prime Minister Fico released from hospital, media says
U.S. dollar ticks down
Tech giants form industry group to develop AI accelerator chips
Amazon gets FAA approval to expand drone deliveries
Lithuania to set up new agency for migrant reception
Kenya hosts joint conference of African Confucius institutes
Russia's GDP grows by 5.4% in Q1, says PM
Roundup: Pakistan to collaborate with China to spur green transition, say Pakistani experts
Navalny allies urge sanctions on Putin allies over opposition leader's death

Others Also Read