By Abdul Rahman M. Baig
JEDDAH — Dr. Hamad S. Al Battal, a leading Saudi businessman, invited Saudi investors to invest in ABZ Agro Foods Ltd’s new project “Halal Slaughtering & Buffalo Meat Production, and added that each investor in the project will be entitled to a share from the net return in proportion to their investment.
He said that the net cash flow from the project operation would be distributed among the promoter 40% and incoming investors 60%.
An introductory presentation was conducted by the ABZ Agro last Wednesday in Seagulls Sea View Restaurant, Corniche.
The presentation was attended by some of the Indian community members and Saudi dignitaries. Al Battal, President, Business Econ Consulting Center — Riyadh and Jeddah — and also the Chairman Seagulls Catch Group of Restaurants, and Abdul Aziz Valiyaveetil, project manager, welcomed the guests.
A detailed documentary on the Buffalo Meat Production and Processing Plant was shown to the invitees and guest, while Al Battal gave a brief introduction about the project.
Ameer Shah then provided the details of the project and said that this project is completely based on interest-free financing & halal slaughtering. And 100% of the production have export potentials to various parts of the world and a minimum return on investment of 27% per annum is expected to the stake holders.
ABZ Agro Foods Ltd. is a professionally managed company in New Delhi, with adequate experience and expertise in manufacture and export of frozen boneless buffalo meat with contacts in major meat markets of the world. The key personnel have more than a decade of experience in procurement, production and export of frozen boneless buffalo meat.
The Buffalo Meat Production and Processing Plant is located at Kishanganj in Bihar, India. The demand for Indian buffalo meat in international market has seen a sudden increase in the meat exports. Buffalo meat dominates exports with a contribution of over 86%. The product registered 27% growth in export during the financial year 2012-13 as compared to the same period last year.
The main markets for Indian buffalo meat products are Vietnam, Malaysia, Thailand, Saudi Arabia, Egypt and UAE. The key players in the pan India network are Al-Kabeer Exports Pvt. Ltd, Allanasons Ltd, M.K. Overseas Pvt. Ltd, Hind Agro Industries Ltd and Al-Nafees Frozen Food Pvt. Ltd.
Along with Al Battal, those who attended the event were Dr. Khaled Al Amoudi, Dr. Abdulaziz Al Shareef, Faisal Al Shareef, Eng. Saud Al Ahmadi, Mir Ghazanfar Ali Zaki, General Secretary IYWA and T.K. Pandey, Vice President Indian Importers Association.
Zaki, who spoke at the event, called on investors to invest under the scheme of FDI (Foreign Direct Investment) with the help of the Commercial Section of the Indian Consulate. The profit earned on the project will be fully free from local taxes to the NRI/FDI investors, he added.