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24-02-14

UAE's NFPC signs 50-year contract

(MENAFN) UAE-based National Food Products Company (NFPC) plans to invest USD408 million in Abu Dhabi's Khalifa Industrial Zone Abu Dhabi (Kizad), according to Arabian Business. The plan came after the signing of a 50-year agreement on Sunday. NFPC owns market-leading brands such as Oasis, Blu, Milco, Lacnor and Gulf & Safa. The company will buy more than eight million square feet of prime industrial land. Khaled Salmeen, CEO, Kizad, said: "Kizad and NFPC are delighted to announce the signing of this agreement. NFPC, a food production company which ranks in the top five in the GCC, has chosen Kizad as their next location for its biggest, state of the art food production facility."