(MENAFN - The Peninsula) Zad Holding Company has announced the launch of a major poultry production project to meet the growing need of the local market.
The project, arguably the biggest in the region, is expected to fill the demand-supply gap of the fresh poultry products in the local market, Tareq Mohammed, Executive President of the Company said.
Qatar's fast growing population has resulted in a shortage of poultry in the local market. The new project will totally cater to the need of the local demand and the surplus poultry could be exported to the neighbouring market, he said.
Zad Holding will possess 50 percent of the project capital, while 20 percent will be allocated for strategic partners and 30 percent for public trading, Tareq said.
The feasibility study of the project has already been completed. The study covered the gap between the supply-demand volumes in the local market.
Tareq said the poultry production would start next year and cover the local market via many stages to be accomplished during three years.
With respect to the project's sanitary control system, he assured that priority would be given to a laboratory integrated system, environmental and competent studies, bearing in mind the prevention of all potential risks.
Zad Holding Company will also work to optimise its non-subsided flour products and enlarge its contribution in the local market in order to compete with the flour products entering into the local market from neighbouring countries.
There are over 100 bakeries that produce Arabic bread. The Ministry of Commerce has a control over these bakeries regarding the total quantities of bread they produce, he said.
Tareq revealed that the company's net profit has been increased from QR57.5m to QR66.2m by virtue of its increased local activities and the exportation of its products to the GCC region states.
By Wafa Ahmed