Citadel, which also announced on Tuesday that it was investing in 500,000 feddans (210,000 hectares) of farmland in Sudan, is also looking to potential investments elsewhere in Africa: Uganda, Kenya, Ethiopia.
An internal document recently posted on IRRI's website reveals that the Institute has been advising Saudi Arabia in the context of its strategy to acquire farm land overseas for its own food production.
Hassad Food's priority in business partnership and export will be given to Arabic and Islamic countries. “A big project will be launched in the near future between Qatar and Sudan. The budget is open as no minimum or maximum limit has been considered so it will be a big project.”
Egypt's Beltone Private Equity and Sudan's Kenana Sugar Company have agreed to set up a firm to invest up to $1 billion in large-scale agriculture projects in both countries, Beltone said in a statement on Wednesday.
Gulf states buying farmland in developing nations for food security face the risk of damaging their reputation as international investors as the deals are seen as land grabs, a Rothschild executive said yesterday.
The wheat farms in Sudan & Uganda are not Egypt’s first foray into overseas farming — the government operates a corn farm in Zambia, a rice farm in Niger, a vegetable farm in Tanzania and plans 14 more farms across Africa — but they are significant because they are among the first efforts to address wheat scarcity after the instability of 2008.