TNC to invest in 1000 hectares orchards in Almaty region
Phoenix Global DMCС , a transnational company, invests in the project for orchards development with a total area of 1000 hectares in Almaty region. The TNC and Kazakh Invest has signed a relevant agreement within the framework of the Intergovernmental Commission in Dubai (UAE).
Investors plan to start implementation of the project worth $81.7 million this year. The first output will be produced by 2021. In addition to the orchards, investors will build a fruit processing and storage facility with the capacity of about 8 thousand tonnes. According to the Memorandum, investors aim to create over 2 thousand jobs.
"This project implies cluster development. In addition to introducing modern technologies with this project, investors plan to increase and ehnance 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% 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 - raw materials for baby food.
It is worth noting that the products will be exported to the Middle East, Southeast Asia, Europe, China, as well as supplied to the domestic market.
Reference: Phoenix Global DMCC is a multinational company based in Dubai, UAE and operating in the field of agriculture. In 2018, the company`s sales volume exceeded $2 billion. Currently, the company has 27 offices in 18 different countries. Phoenix Global offices are located in the CIS, Asia, Africa, as well as in Australia, North and South America.