KUALA LUMPUR: FGV Holdings Bhd’s unit (FGV) has teamed up with Felcra Bhd and Qatar’s Baladna Food Industries Co. W.L.L to look into turning FGV Chuping Agro Valley into one of the leading agro-valley hubs in Malaysia.
In a filing with Bursa Malaysia on Monday, FGV said its unit FGV Integrated Farming Sdn Bhd (FGVIF), had signed an MoU with the two parties to carry out a comprehensive feasibility and technical study.
The plan, it said, is an opportunity to potentially co-invest in an integrated dairy farm business in Chuping, Perlis.
The objective is to deliver sustainable value for its stakeholders, better livelihood for the local community, as well as addressing food security concerns for the country.
“The potential initial areas of collaboration include doubling the current production of Malaysian fresh milk within two years, creating a ten thousand milking cow farm with an annual production of one hundred million litres of milk per year.
“Other potential areas include utilising Malaysian agricultural land to produce largely the required animal feed for the dairy farm, as well as using the JV farm as a hub that supports small rural farms in developing small cattle fatting farms and animal feed farms by 2024,” it said.
Felda said the partnership will also look into building an industrial farm and start dairy production, and to operate an industrial farm producing two million litres of milk on a weekly basis.
This is with the aim of doubling the production of fresh milk in Malaysia, reduce imports substantially, provide fresh healthy milk to consumers, as well as to support the Malaysian farmers.
FGVIF is a company with businesses primarily in cash crops, paddy and rice, animal nutrition and protein, livestock and dairy farming activities.
Felcra is wholly owned by the Minister of Finance (Incorporated) with the objective to develop rural areas by helping the rural community to participate in economic activities and to improve their living standards.
Baladna is a Qatari agricultural company that raises livestock and produces dairy products. It is Qatar’s largest locally-owned food and dairy producer, supplying the majority of the country’s fresh dairy products.
Source: The Star
