Dubai Food Park inks Dh1.35b investment agreement
Dubai:Dubai Food Park (DFP), a largest specialised zone dedicated to serving the rapidly growing food sector, on Saturday signed an Dh1.35 billion investment agreement with Ningxia Forward Fund Management Company to build a world-class China-UAE Food Industrial cluster in Dubai.
The agreement was signed by Abdulla Belhoul, Chief Executive Officer of Dubai Wholesale City, and a representative from Ningxia Forward Fund Management Company, on the sidelines of the third edition of the China — Arab States Expo in China’s northwest autonomous region Ningxia’s capital Yinchuan.
Spanning an area of 4.38 million square feet, the China-UAE Food Industrial cluster will be home to 30 food plants, including two Chinese catering companies and two advanced manufacturing plants for food packaging materials. The project is scheduled for hand over 24 months from date of commencing its construction.