From Vertical Farm Daily: Joint Venture to Invest $130M in Regional Strawberry Growth Across GCC Region

“Plenty® has built the most technologically advanced indoor farming platform aimed not only at meeting year-round consumer demand but making it possible to build a long-term food security infrastructure that can adapt to the needs of regions like the Middle East,” said Arama Kukutai, CEO of Plenty.

Plenty Unlimited Inc. and Mawarid Holding Investment have entered an exclusive, multi-year, region-wide partnership to bring locally grown fresh produce to countries across the Gulf Cooperation Council (GCC). The joint venture Plenty and Mawarid have formed will invest more than AED500 million (US$130 million) into the partnership’s first project in the GCC – a vertical farm in Abu Dhabi, designed to grow more than 2 million kilograms of strawberries annually.

The joint venture plans to develop up to five farms in the next five years, which would require investing up to AED2.5 billion (US$680 million) and bring thousands of direct and indirect employment opportunities to the region. Mawarid is a subsidiary of Alpha Dhabi Holding, a major publicly listed company on the Abu Dhabi Securities Exchange (ADX).

Read the full story from Vertical Farm Daily