RIYADH: Abu Dhabi-based Pure Harvest Smart Farms, a regional innovator in sustainable agriculture, has acquired BayWa’s controlling interest in the Al Dahra BayWa joint venture, WAM reported.
The new joint venture is set to raise Pure Harvest Smart Farm’s total operating capacity under management to 22 hectares.
More capital will be allocated under this newly formed joint venture to elevate the farm’s capabilities and expand its production capacity to include new crops as it wants to serve a wider consumer base, WAM stated.
The three parties will continue to work together to enhance food security and food infrastructure projects both in the UAE and in new markets. This would involve developing more production assets, renewable energy infrastructure projects, and other investments.
“The project supports the objectives of the National Food Security Strategy as well as our mission of transforming the UAE into a global hub for innovation-driven food security and a leading exporter of sustainable agricultural solutions," Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, quoted as saying in the WAM report.
