Baku, Azerbaijan, Sept.11
By Nargiz Sadikhova – Trend:
Dubai’s Phoenix Global DMCС transnational company (TNC) is to invest in the project for orchards development with a total area of 1000 hectares in Kazakhstan’s Almaty region, Trend reports with reference to the press office of Kazakh Invest.
The TNC and Kazakh Invest have signed a corresponding agreement within the framework of the Intergovernmental Commission in Dubai.
Investors plan to start implementation of the project worth $81.7 million this year. The first output is planned for 2021. In addition to the orchards, investors will build a fruit processing and storage facility with the capacity of about 8,000 tons. According to the Memorandum, investors aim to create over 2,000 new work places.
"This project implies cluster development. In addition to introducing modern technologies with this project, investors plan to increase and enhance the current practice of growing fruits in neighboring farms for collection of raw material. Thus, in the near future, local gardeners will produce high-quality and ecologically clean domestic products with the use of the latest technologies and have a 100 percent sale of goods," said Timur Tilinin, the Deputy CEO of Kazakh Invest.
The orchards will grow apples, pears, apricots, plums, peaches and cherries. As part of a full production cycle establishment, including storage, sorting, processing and freezing of products, it is planned to produce fruit puree and concentrate, which are raw materials for baby food.
Furthermore, the products will be exported to the Middle East, Southeast Asia, Europe, China, as well as supplied to the domestic market.
Phoenix Global DMCC is a multinational company based in Dubai, UAE and operating in the field of agriculture.
(1 USD = 385.89 KZT on September 11)
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