Qatari food company Baladna has signed a memorandum of cooperation (MoC) with plastic packaging firm Inter Plastic to procure plastic packaging material.
Baladna CEO Piet Hilarides and Inter Plastic chairman Sheikh Hamad Thamer Mohammed Jassim Al Thani signed the MoC last week.
Under the terms of the agreement, Inter Plastic will supply locally manufactured quality plastic packaging solutions to Baladna in accordance with international standards.
Al Thani said: “We are pleased to collaborate with Baladna and support its efforts contributing to a self-reliant food sector in Qatar.
“Through our products that are designed at the highest quality and production efficiency, we will contribute to our partner’s successes.”
The partnership is part of Baladna’s strategy to encourage economic and industrial integration and interdependence between Qatari firms.
The company aims to increase Qatar’s in-country value through collaborations with local manufacturers among other ‘economic multipliers’.
In doing so, it aims to boost value for its shareholders.
Hilarides said: “As a company that contributes to achieving food self-sufficiency in Qatar, Baladna has a keen focus on promoting the development of local content and strengthening local supply chains.
“Our strategic supply chain programme relies on procurement of raw materials and services from local suppliers that meet quality and safety standards.
“We hope that our partnership with Inter Plastic will help us further these objectives.”
Baladna currently supplies more than 95% of Qatar’s fresh dairy products.
The company recently acquired a 5% stake in Egyptian food company Juhayna Food Industries for around QR67.1m ($18.4m).
Juhayna Food Industries specialises in the production, processing and packaging of dairy, juice and cooking products. The company trades on the Egyptian Stock Exchange.