UAE - Mubasher: ADQ, Abu Dhabi's state holding company, has set up a new company in Abu Dhabi, Silal, to diversify food sources and raise locally grown, raised, and manufactured food.
In line with Abu Dhabi government's goal to ensure food security, the new company aims to protect overall food and agriculture sector and local farmers, according to a press release on Monday.
Silal will manage offtake programmes and strategic food reserves and develop knowledge-transfer programmes related to desert farming technology to encourage small farmers in the UAE to increase local production of fruits and vegetables.
Meanwhile, Jamal Salem Al Dhaheri will serve as the CEO of the new company.
The Chief Investment Officer at ADQ, Khalifa Sultan Al Suwaidi, said: "Silal also complements ADQ’s existing investments in the food and agriculture sector as we seek to expand this important economic cluster."
In addition, Al Dhaheri noted: "Through a number of programmes and initiatives, Silal will facilitate sustained production, sourcing and distribution of essential foods in Abu Dhabi for the benefit of retailers, farmers and the community."
It is noteworthy to mention that earlier this year, ADQ has acquired 50% stake in Al Dahra Holding Company, a multinational agribusiness specialising in animal feed and essential food commodities.
