The region’s largest industrial food district Dubai Food Park (DFP) signed a $367m (AED1.35 billion) investment agreement with a Chinese food company to build a China-UAE industrial food park in Dubai.
The new park, spanning an area of 4.38 million square feet, will house 30 food plants, two Chinese catering companies and two food packaging manufacturing plants.
The food park consists of six major areas for processing meals and packaged foods, temperature controlled supply-chain storage, food packaging production, e-commerce and commodities sector and safe bio-disposal of wastewater and waste, officials said.
Food processing takes centre-stage in the new plant’s operations with 75% of the total area allocated to factories, 17% to warehouses and 8% divided between offices and other facilities.
The project is scheduled for hand-over 24 months from date that construction commences.
The deal was signed by UAE officials and Ningxia Forward Fund Management Company on the side-lines of the China – Arab States Expo in China’s northwest Ningxia region.
Dubai Holding chairman, Abdulla Al Habbai, said the agreement hopes to cement long-standing relations with China and foster sustainable development in both countries.
China's non-financial foreign investment increased by 352% in the first nine months of 2017, compared to the same period last year. The number of Chinese companies registered with the UAE Ministry of Economy also exceeded 4,000 in 2017.
Dubai Holding launched Dubai Food Park in July 2017, the first-of-its-kind in the region, expected to build on Dubai’s position as a leading regional hub for foodstuffs and food re-export.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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