Photo courtesy of Food Africa Expo official website
CAIRO - 24 April 2017: Makkah Industrial and Trade Co, affiliated to Saudi Group Mahmood Saeed, announced on Sunday plans to increase its investments in Egypt by establishing a new factory at EGP80 million (around $4.4 million).
The new factory will be for producing milk, flavored milk and cheese. The feasibility studies are in progress, Makkah General Manager Ibrahim El- Meniawy said Sunday during his participation in Food Africa Exhibition at Cairo International Convention Centre.
Mahmood Saeed Group is a Saudi holding company that manufacture glassware, glass containers, polyethylene plastic bags, cans, home and office furniture, perfumes and cosmetics; production of canned compotes, juice, jam, tomato paste, carbonated soft drinks; distribution of perfumes and cosmetic products; ownership and operation of malls, shopping centers, cafes and restaurants.
He added that the new plan is a part of the industrial complex which is in progress in an area of 100 acres located at Cairo–Alexandria desert road along with another EGP400 million allocated for two factories in fields of producing juices, soft drinks, concentrates, and packaging.
The company is allocating 40 percent of its production for the foreign markets, that is why it has seven production lines under construction and the factory expected to be operated at full capacity within 8 months, El- Meniawy said.
The announcement of the new plant comes while President Abdel Fatah al-Sisi is visiting Saudi Arabia Kingdom upon an invitation from the Saudi king, Salman bin Abdul Aziz after months of tension between the two states.
Saudi businessmen consider Egypt is a promising place for investing and hope for stronger political and economic relations between the two countries, Saudi businessman Ihab Al-Sharief told Egypt Today.