Wafra International, an investment firm owned by the Kuwait state pension agency, is investing $10 million of the new funding in Pure Harvest Smart Farms, and committing $100 million in equity and project financing.
Turkish investors have been cooperating with Kuwaiti businesspeople to invest some $100 million in greenhouses on a 100 hectare area in the Karaali region to export agricultural products to Gulf countries.
With the passing of a law in 2012 opening the door to foreign investment in farmland in Turkey, Gulf countries are increasing their investments in agriculture and livestock, as they aim to meet their homeland's food needs.
The Executive Director of the Kuwait-based company, Africa Relief Organisation, financiers of the project, said his organisation has released 3bn/- to finance cultivation of 300 acres of rice this season alone at the new Rufiji irrigation belt.
A senior official at the Moroccan Ministry of Agriculture and Fisheries has urged Kuwaiti private sector and businessmen to direct investments to the agricultural sector in the Kingdom, offering cultivated land, long-term rent contracts and tax exemptions.
Kenana, which is mainly owned by the governments of Kuwait, Saudi Arabia and Sudan, is aiming to more than double its annual sugar output to 1 million tonnes by 2015 as the firm seeks new export markets
Sudan launched a major dam project on Tuesday to boost power supply and agricultural irrigation, a plan officials hope will foster farmland exports and attract more Gulf investment to the African country as it battles an economic crisis.
Foreign investors have shown real interest towards Bulgarian agriculture for the past 2-3 years. The trend has changed a bit and now different Arab countries and China are the interested ones, instead of Italy, France, etc.