Stating that Turkey is home to one of the world’s strongest agricultural producing and exporting markets in the world, Mr. Abdulfattah Marafie, Chairman and Managing Director of Kuwait’s Al Tijaria Real Estate Company has announced that Al Tijaria has entered into an agreement to invest US$10 million into farmland and agricultural production in Turkey. The target of the investment will be the buying and development of pre-selected farmland within an area of 10 million square meters (3.87 square miles), and the total investment period will be eight years. The first two years will be dedicated to the development and cultivation of the land, followed by six year of crop production with the option to extend the deal for an additional two years. Al Tijaria has stated that it has established a partnership with an international exporter of concentrated juices which will buy and process the crops produced through the project.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free weekly enhanced eNews service