04/07/2021

IZDEHAR Palestine Development and Investment Company held the first annual ordinary general assembly meeting at the headquarters of the Businessmen Forum in Hebron, in the presence of 37 shareholders in the company representing 100% of the total shareholders and in the presence of the international auditing company - KPMG, and the company's legal advisor.

The Chairman of the Company's Board of Directors, Mr. Rafiq Abu Munshar, indicated that the development activities in which the total shareholders and founders of the company are involved have managed to this day to mobilize a total investment of $50 million from various shareholders and financiers. The projects planned by the company will enable the employment of at least 5,000 direct jobs and 50,000 indirect jobs, and these projects will have tangible effects on the gross domestic product during the next ten years.

The CEO of Izdehar Palestine Company for Development and Investment and a member of the General Assembly of the Businessmen Forum, Mr. Basil Al-Qadi, confirmed that the Palestine Izdehar Company has become an economic umbrella for investors who are jealous of the homeland and the Palestinian citizen. It operates on natural gas, with a production capacity of 80-megawatt hours, expandable to 200-megawatt hours, which will help create more than 100 direct jobs and more than 10,000 indirect jobs by activating the industrial system, dispensing with the Qatar Electricity Company, and achieving economic independence.

About agricultural production and marketing activities, he indicated that the company has developed three agricultural projects, namely the fodder factory, the Agricultural Empowerment Company, and the Pickles Factory in Jenin. He also explained that the company has started building the largest animal feed factory in Palestine with a production capacity of 70 tons/hour of concentrated feed and whole ration fodder, which in turn will boost the trade balance by about $50 million annually, and add an estimated $6 million to the GDP. annually.

About agricultural empowerment, he explained that the company has developed a unique empowerment model that targets more than a thousand marginalized Palestinian families in the southern West Bank, as the project targets women, recent graduates, and youth, and provides each family with a total income of $1,500 per month.

Al-Qadi also reviewed several projects under study and development, including a solar energy project with an investment of 5 million dollars, an optical fiber project in Hebron with an investment of 10 million dollars, a vegetable oils factory project with an investment of 20 million dollars, and a project to enable handicrafts with an investment of 15 million dollars.

In turn, the representative of KPMG presented the financial report on the company’s performance from its inception in late 2019 to the end of 2020, and after many shareholders’ interventions, the company’s financial and administrative report and its plans for 2021 were approved.