RABAT, Morocco--(BUSINESS WIRE)--An investment agreement was signed on Wednesday, March 9, 2022, in Rabat between Rita Maria Zniber, CEO and chairman of Diana Holdings and HE Ryad Mezzour, Morocco’s Minister of Commerce and Trade. The agreement covers an overall investment of 127 million dirhams (11,6 million Euros).
The investment, of paramount importance for Diana Holding, is intended for the Berkane Juice Processing, a subsidiary of Les Domaines Zniber, and will be used to establish a citrus juicing and processing unit to produce juice and juice concentrate in the Berkane region.
Boasting a production capacity expected to reach 30000 tons of citrus, sorted and sent over from the various packing stations located in the Oriental and Central Morocco, the new project is set to strengthen the Kingdom’s food sovereignty.
The project will mobilize at least 127 million dirhams in investments (11,6 million Euros) for a projected annual turnover of more than 75.81 million dirhams (approx. 7 million Euros) and will generate 240 direct jobs.
The juicing and processing unit will ensure better coordination between the group’s production and packing businesses. It will also enhance the value of fruits that are rejected at the point of sorting and non-exported fruits, often sold at zero value and no return for the producer.
Commenting on the signing of the agreement, Rita Maria Zniber, CEO and chairman of Diana Holdings said: “The investment represents the cornerstone for the development of capital intensive agro-industrial projects, that are instrumental to our country.” She added: “This project further strengthens Diana Holding’s strategic vision, which focuses on integration, development and export.”
About Diana Holding
A major player in the agri-food industry, the Diana Holding Group has consolidated and expanded its presence in Morocco for more than 55 years. It occupies the 7th place in the ranking of the largest private groups in Morocco, with a turnover of 3.352 billion dirhams in 2020 and 6,500 direct jobs This reference agri-food group ranks 7th in the ranking of the largest private groups in Morocco, with a consolidated turnover of 3.352 billion dirhams in 2020 (Covid-19 crisis) and 7,200 direct jobs.
*Source: AETOSWire
