The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI / WAM
Al Dahra Holding LLC announced the signing of a Memorandum of Understanding (MoU) for a strategic partnership with Bulgaria-based AJD Agro Ltd. for the cultivation and supply of essential crops and forage – including alfalfa and other grasses – and the establishment of forage processing and dehydrating plants across various locations in Bulgaria in the near future.
On the occasion of the MoU signing, Khadim Al Darei, Vice Chairman and Co-Founder of Al Dahra Holding, said: “We have always considered Bulgaria as a strategic agricultural partner given its differentiated position in the European continent when it comes to alfalfa and essential grains cultivation and livestock growing. Moreover, we have engaged in partnership conversations with ADJ
Agro since we have started exploring the addition of Bulgaria to our investments portfolio and believe that the company presents an excellent fit given that it is a pioneer in the alfalfa cultivation business. As such, we are looking forward to our joint cooperation to further solidify this partnership over time.”
In turn, Dimitar Machuganov, AJD Agro’s Founder, said: “We are very excited to partner with Al Dahra as such collaboration provides us with needed resources to increase our farming footprint and production capacity and allows us to further reach global commercial markets. We have great pride in our alfalfa expertise and quality and believe that with joining forces with Al Dahra, we can extend our success
to-date to new strides”.
Al Dahra had previously invested in Bulgaria through Loulis Mills, the Greek-based flour miller in which it owns a stake. Loulis Mills acquired the largest flour mill operator in Bulgaria. In addition, the acquisition enabled the company to increase its capacity of producing compound feed and concentrate feed, leveraging the flour by-products as raw material in the process.
AJD Agro cultivates more than 4,000 hectares of land spread across the Lovech region and currently operates an alfalfa dehydration plant with an annual alfalfa production capacity of 20 thousand metric tons. In addition to alfalfa, wheat and corn, AJD Agro’s feed portfolio is growing to include dehydrated corn silage, oaten hay and ryegrass amongst others.