Al Salam Bank and CP Group form strategic alliance
Bahrain-based Al Salam Bank enters the agricultural industry by signing a strategic Memorandum of Understanding with Thai Charoen Pokphand Group (CP Group).
For CP Group, this marks the organization's business expansion into the Middle East and North Africa (Mena) region.
Al Salam and CP Group will jointly identify suitable agribusiness ventures that will generate attractive risk-adjusted returns while playing a proactive role in addressing food security in the region.
The alliance will initially carry out detailed feasibility studies to gauge the viability in various target agribusiness sectors, including livestock, staple food, aquaculture, and perishables.
The studies will comprehensively cover technical, financial, market and operational due diligence, in order to identify target markets in the Mena.
The proposed venture is envisioned to be an integrated Halal Food Company that will invest in farming, food processing, packaging, and distribution.
CP Group will provide a highly specialized management team with extensive track record in the agricultural and food industry for this venture.
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