The hydroponic development group from the Middle East has received approval for the construction of their hydroponic farms at the PEPA Business Park in Proenca-a-Nova, a municipality in the district of Castelo Branco in Central Portugal.
The Pegasus system
The first structure at the 2 hectare plot is slated to be completed by May 2017. In total, Pegasus will invest about 2.5 million euros in each hectare of production and will create 12-15 new jobs in the first phase. The group plans to expand the project to a total of three phases over the next couple of years.
Pegasus announced that the vast majority of the subsequently farmed produce is to be destined for export.
Pegasus Agriculture is one of the larger developers of hydroponic projects in the Middle East and North Africa. With their partners Gardinia Hydroponic Farming, Pegasus Agriculture currently grows hydroponic greens in Oman and another project in the U.A.E. is ready for development. Besides Florida and Portugal, the group also has plans for investments in Malaysia, Singapore, Kuwait, Turkey and Qatar.