(MENAFN) Serbia's Finance Ministry announced that Abu Dhabi-based Al Dahra plans to spend USD400 million to acquire 8 farm firms in the Balkan country, reported Arabian Business.
According to Finance Minister Mladjan Dinkic, Al Dahra's investment, the biggest in Serbian agriculture for decades, will see the firm develop these companies to grow and process food and fodder for export purposes.
He added that a third of the investment will be allocated for the purchase of 8 bankrupt agricultural firms, chiefly in Serbia's fertile north, whereas the rest will be invested in irrigation and the development of at least 5 fodder plants.
It is worth noting that Serbia has also secured a USD400 million loan from Abu Dhabi Development Fund, which will be also used to develop the country's agricultural sector.
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