Abu Dhabi National Foodstuff Company (Foodco) said it would invest Dh200 million ($54 million) in an industrial zone for foodstuff in the UAE capital. The facility will be ready by 2007.
Foodco managing director Ahmed bin Ali Al Dhahry said the facility "will provide top class infrastructure and efficient and well-developed support services thereby actively encouraging entrepreneurs and investors."
Meanwhile, Foodco's projected net profits for the third quarter of this year are expected to increase by over 34 per cent to more than Dh100 million, over Q2 2005 results and are expected to continue this growth till the year end.
Today, Foodco is one of the most sought after scripts in the UAE Stock Exchange, with a group of satisfied shareholders.
