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Tuesday, 14 November 2017

Domty denies entering into a partnership to produce and package olive oil

INVESTMENT WATCH- Domty denied that it is planning to invest USD 25-30 mn in an olive packaging and processing operation with a company owned by Abdel Salam Alwadi, chairman of the Tunisian Olive Oil Association. Domty made the announcement in a regulatory filing on Monday (pdf) after a report in Al Mal surfaced yesterday quoting Alwadi as saying that his company signed an agreement to get 10k feddans for the proposed plant and Domty is expected to get another 3k feddans. The land was supposed to be allocated as part of the 1.5 mn feddan desert reclamation project, according to statements attributed to Alwadi.

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