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According to a press release by DP World, the international ports operator and current manager of Berbera Port has signed a 20-year lease with IFFCO to develop a food-grade oil packing plant in the Berbera Economic Zone (BEZ) in Somaliland. The 300,000 sq. ft food-grade oil processing plant in Berbera Economic Zone is scheduled to be completed by the first half of 2023 with future expansion plans to double its size.
IFFCO, short for Indian Farmers Fertiliser Cooperative Limited, was established in 1975, has a presence in 37 countries, and has products that range from food and packaged goods to chemicals.
At the signing of the agreement between DP World and IFFCO, Suhail Albanna, CEO & Managing Director of DP World, Middle East & Africa said “The decision by IFFCO to set up a plant is a major vote of confidence in the zone and a testament to our offerings. In fact, with the port, the economic zone and the one-stop-shop all under DP World, it will be like a home away from home for Dubai-based customers such as IFFCO.”
The arrival of IFFCO in Somaliland is a major vote of confidence that follows DP World’s massive investment and development of Berbera Port and the Economic Zone.
Although Somaliland is a small market relative to landlocked Ethiopia, it gives manufacturers such as IFFCO a competitive edge that brings their products to a largely underdeveloped and food-insecure region where the majority of packaged foods and other consumer products are imported from overseas.
“IFFCO continues to invest in the future of food and supply chains globally. The partnership with DP World demonstrates our commitment to the UAE’s national food security strategy and facilitating global food trade. It also further enhances access to African consumer bases quickly and more efficiently.” said Mr. Shiraz Allana, director and supervisory board member of IFFCO.