Qatar's Hassad Food has announced its plan to invest 500 million U.S. dollars in the agricultural and food sector in Sudan over the next three years, Xinxua reported Friday citing local media.
The announcement came after Hassad, the wholly owned subsidiary of Qatar Investment Authority, signed a mutual agreement with a Sudanese company on the agricultural and food cooperation, the Qatar-based English newspaper Gulf Times reported.
"Over the next three years, we plan to invest about 500 million dollars in the Sudanese food sector, by entering into partnerships with a number of local Sudanese companies," said Mohamed Al Sadah, chief executive officer of Hassad.
Qatar maintains strategic relationships with Sudan, supporting the country on many issues, especially over Darfur region.
Meanwhile, Sudan supported the Kuwaiti mediation efforts in the ongoing Gulf crisis, in which Saudi Arabia, Bahrain, the United Arab Emirates and Egypt cut diplomatic ties with Qatar, accusing it of supporting terrorism and extremism, which Doha has repeatedly denied.
Established in 2008, Hassad is Qatar's premier investor in the food and agri-business sectors.