Qatar: Hassad Food signs pacts with Russian agri, commercial entities

QNA/Saint Petersburg

Hassad Food, Qatar’s food and agribusiness investment arm, has signed three memoranda of understanding with leading Russian agriculture and business entities, Demetra Holding, Damate and the Qatar-Russia Investment and Trade Advisory at the St. Petersburg International Economic Forum.

Demetra-Holding, one of the largest vertically integrated grain holding in Russia (integrates assets in transport, export logistics and trading), has worked together with Hassad Food to analyse potential areas of mutual interest. Both parties have agreed to find investment opportunities and develop trade relationship in grain logistics and trading. The companies will explore the possibilities for the business in the wider Middle East region, focusing on using Russian technology and know-how for agricultural infrastructure projects.

Moreover, Widam Food, the largest producer and processor of animal proteins in Qatar and Damate Group, one of the largest producers of turkey meat and other animal proteins in Russia have agreed to develop and expand the trading relationship in the sector. Both sides expect significant trading potential between the two countries, particularly in the halal lamb meat business.

The Hassad Food Chief Executive Officer and Chairman of Widam Food Eng. Mohamed Al-Sadah, commented: “It is our pleasure to sign the memoranda of understanding (MoU) with three of the most established and respected institutions operating in the food sector in the Russian market. We are delighted to work together to identify investment and trade opportunities, which shall bring strategic and commercial value to both sides.

“Qatar is an important and reliable partner for us in the Middle East and one of the key grain markets. Annual imports of Qatar wheat are about 200 thousand tons, and more than a third of this volume, at the end of last season has been supplied by Russian grain exporters. The companies of Demetra-Holding have been cooperating with Qatar for the last 7 years, we see a great capacity in our further partnership,” said for his part the Chief Executive Officer of Demetra-Holding Vitaly Sergeychuk.

“As a major leading country of the Middle East and consumer of Halal products, Qatar is an important partner for Damate Group. By ensuring consistent supplies of different types of meat to the Qatari market we guarantee not only their exceptional quality and taste, which are the foundation of our international strategy, but also a full compliance with Halal requirements proven by corresponding certification,” stated the General Director of Damate Group Rashid Khayrov.

Finally, Hassad Food has signed a MoU with the QR Investment and Trade Advisory (QRITA), to work together to source business and investment opportunities in food and agriculture sector. Both sides believe that Russia offers excellent investment opportunities in meat processing, grains handling and logistics as well as building trading businesses.

The Managing Director and CEO of QR Investment & Trade Advisory Oleg Chizh said: “We are pleased to collaborate with Hassad Food to represent their interests in the Russian Federation and CIS countries and to establish a co-operation framework to identify and source suitable investment and trade opportunities in food and agriculture sector between Russia/CIS countries and the GCC nations.”

Hassad Food is a fully owned subsidiary of Qatar Investment Authority (QIA), considered as the countrys investment arm in food and agribusiness sectors, Hassad has several strategic commercial investments, internationally and locally, which supports Qatars food security efforts.

Internationally, Hassad invested in key strategic establishments in Australia, Canada, Turkey, Oman, KSA and Sudan, while in Qatar, Hassad owns multiple subsidiaries that directly manage the companys key investments. Hassad also has a major role in crisis management and in the field of research and development.