QAFCO, Hassad Food and Yara sign MoU
Qatar Fertiliser Company (QAFCO), Hassad Food and Yara International ASA (Norway), signed a Memorandum of Understanding (MoU) on 15 February 2018 to support efforts to increase food production from the Qatari agricultural sector. The partnership will focus on increasing agricultural yields, in line with Qatar’s aim to achieve self-sufficiency in a reliable and sustainable manner.
Mr. Said Mobarak Al-Mohannadi, Chairman – QAFCO Board of Directors, Mr. Mohamed bin Badr Al-Sadah, Chief Executive Officer of Hassad Food and Mr. Svein Tore Holsether, President and Chief Executive Officer of Yara International ASA, jointly signed the memorandum on behalf of the three companies.
The ceremony was attended and witnessed by Mr. Saad Sherida Al-Kaabi, the President and CEO of Qatar Petroleum.
Mr. Al-Mohannadi expressed, “Today marks an important milestone in the history of QAFCO, YARA and Hassad Food, being part of an ambitious initiative to support Qatar’s food security objectives. We are confident that this project shall prove to be one of the contributors towards the development of the Qatari agricultural sector and strengthen existing relations between the three entities.”
Mr. Al-Sadah expressed, “It’s our pleasure to be part of such a great partnership, Hassad, as Qatar’s premier investor in food and agribusiness sectors, aims to continuously support the local agricultural sector. We are committed to provide the needed support to the two esteemed entities, to assist in increasing the local production from high quality food products.
Mr. Holsether expressed, “Yara is proud to have been a partner to the state of Qatar for nearly 50 years through our shareholding in QAFCO, and today’s signing marks another important step in our continued commitment to this collaboration. With our vast experience in providing balanced crop nutrition, we support farmers worldwide to increase yields and improve the quality of produce. We sincerely look forward to contribute with our products, solutions and knowledge in the Qatari agricultural sector, in collaboration with our two partners.”
The memorandum formalizes ongoing efforts by the three entities to support the State of Qatar’s goal of food security. Over the past months, the entities have already engaged in workshops and farm tests together with several farmers to lay the foundation for a successful outcome. Over the coming months, several test projects will be carried out on several farms to demonstrate the yield potential and create best practices for the agricultural sector of Qatar.
ABOUT HASSAD FOOD
Established in 2008, Hassad Food is Qatar's premier investor in food and agri-business sectors, and is a wholly owned subsidiary of Qatar Investment Authority (QIA). Hassad, has a diverse set of investments locally, and internationally in several countries like Australia and Oman.
Founded in 1905 to solve emerging famine in Europe, Yara has a worldwide presence with more than 16,000 employees and operations in over 60 countries. Its crop nutrition solutions and precision farming offerings allow farmers to increase yields and improve product quality while reducing environmental impact. Its environmental and industrial solutions improve air quality and reduce emissions, and are key ingredients in the production of a wide range of products.