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UAE’s Al Dahra Group to Build $5.7 Million Olive Oil Plant in Morocco
Tuesday 15 October 2019, by
An olive oil production plant will soon be built in the Fès-Meknès region. This is an ambitious project of the Emirati group, Al Dahra holding, specialized in agri-food and agribusiness.
At a total cost of around 55 million DH, the construction of the olive oil production plant in the Fès-Meknès region will be entirely financed by bank loan, we learn from an official source.
In this regard, Al Dahra Morocco and Al Dahra Morocco factories, two subsidiaries of the Emirati Group, have already negotiated a loan of 5 million euros from the European Bank for Reconstruction and Development (EBRD). In mid-November 2019, the Board of Directors of said bank will approve this loan in local currency.
Al Dahra holding is a global giant in the agri-food industry, based in Abu Dhabi. It has specialized in the cultivation, production and trade of animal feed and basic food products such as rice, flour, fruits and vegetables.
Since 2012, the Emirati group has been present in Morocco where it had bought the company specialized in olive production, Oliva.