AGF in talks to secure emergency food storage
Al Ghurair Foods (AGF), the largest supplier of grains in the UAE, is looking at doubling its grains storage facility in Jebel Ali in order to cater to at least six months of country-wide emergency needs. The facility has 300,000 tonnes capacity, equal to three months supply for the UAE. The firm, which controls 40 per cent of the domestic flour market, is currently in discussion with the government for a partnership deal, said a top official from AGF.
"We are talking with the government with regards to increasing the strategic reserves to six months. It will be our money but it will be done in partnership with the government," Essa Abdulla Al Ghurair, Chairman of AGF, told Emirates Business.
Al Ghurair Foods plans no new investments but is eyeing 20 per cent turnover growth this year by reaching maximum capacity.
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