Agriculture & Food

Creditors, including HSBC, have spent months attempting to negotiate a debt restructuring agreement with IFFCO, but recent talks failed to produce a settlement, leading a creditor group to file insolvency petitions.

Novus directors acknowledged a challenging trading environment with various headwinds but stated that management had remained focused on executing strategic initiatives and growth projects expected to enhance operational efficiencies, strengthen market positioning and unlock new revenue opportunities.

The MonoPP Flowpack is certified as recyclable by the Cyclos-HTP Institute and can integrate with existing recycling infrastructure in countries with established polypropylene recycling streams.

The facility will incorporate low-emission production lines, solar energy, advanced water and waste management systems, and an on-site water treatment plant.

By switching to aluminium made with renewable power (hydro, wind, or solar), Elopak addresses the aluminium layer’s emissions without changing barrier performance or requiring customers to modify filling lines.

The initiative will run for six to twenty-four months, with measurable milestones for each participating business.

A typical GCC-based packaging manufacturer currently pays approximately AED 3,850 (US$1,048) per metric ton for conventional plastic resins, while GAIA’s PLA-free compounds are available at comparable or lower price points.

The inclusion of printing and packaging companies alongside food producers reflects a strategic recognition that packaging is inseparable from food exports.

The new facility is expected to expand production capacity for sustainable paper-based packaging materials.

The regulations apply only to processed, pre-packaged foods, not fresh produce.