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SSIF says its agricultural project contributes to achieving local food security 

By JT - May 17,2022 - Last updated at May 17,2022

Social Security Investment Fund board members and representatives during a field visit of a project by Daman Company for Investment and Agricultural Industries (Photo courtesy of SSIF)

AMMAN — The Social Security Investment Fund (SSIF) reaffirmed that its first agricultural project will contribute to covering part of the local consumption needs of strategic agricultural products in line with the Kingdom’s agricultural map.

In a press statement, SSIF said that the project is established in the southern region of the Kingdom on an area of 30 km² with a total cost of JD13 million, and is managed by Daman Company for Investment and Agricultural Industries, a wholly owned company that was founded by SSIF at the end of 2020.

During a site visit, Investment board members, SSIF managers and the company’s representatives were briefed on the multi-phase project that is managed by the company’s expertise, in addition to partnering with local investors, with the goal to invest in feasible projects that also contribute to the national food security and the shift to green economy.

Phase one of the project included developing the project’s infrastructure and planting around 8 km² with grains that will be harvested by end of this month, in addition to animal feeds.

According to the statement, expansion opportunities in food production chain and manufacturing will be considered based on the feasibility studies’ results and the risk levels of those potential investment opportunities and their alignment with SSIF’s investment policy. 

Cooperation with agricultural research centres will also be considered to create sustainable agricultural systems, develop scientific research and innovation in the sector.

 

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