( MENAFN – Daily News Egypt) Elsewedy Industrial Development, a subsidiary of Elsewedy Electric, has signed an agreement with MAFI for Agricultural Produce Industries to allocate 154,000 sqm of industrial land in Industria Sadat City. The agreement was signed by Ahmed Elsewedy, President and CEO of Elsewedy Electric and Chairman of Elsewedy Industrial Development, and Ahmed Abou Hashima, Founder and Chairman of MAFI. Mohamed AlKammah, CEO of Elsewedy Industrial Development, and Sherif Tantawy, CEO of MAFI for Agricultural Produce Industries, also attended the ceremony.
Ahmed Elsewedy praised the project for its significant impact on the Egyptian economy. He said that the complex, which is the largest and most diverse of its kind in the Middle East, will export 80% of its products. He also stressed the global competitiveness of the Egyptian industry.
Ahmed Abou Hashima said that the complex will support the Egyptian economy by adding value to local agricultural resources through manufacturing. He expressed his pleasure in working with Elsewedy Industrial Development and said that the complex will use state-of-the-art technology in the agricultural food sector in cooperation with major international companies.
Abou Hashima added that the complex will contribute to balancing Egyptian trade and supporting the economy by exporting 80% of its products. He also said that the project will generate over 7,000 direct and indirect jobs, and help reduce unemployment.
Mohamed AlKammah said that the agricultural products industry will enhance the industrial diversity in Sadat City. He described the project as one of the largest complexes for agricultural products and food in the region.
AlKammah highlighted the expertise of Elsewedy Industrial Development, which has 15 years of experience in building and developing sustainable industrial cities. He also pointed out the importance of Elsewedy Technical Academy, which provides a qualified and trained technical workforce for investors in Elsewedy’s industrial cities.
According to the agreement, MAFI will invest about $300m to establish a complex that consists of five plants. The complex will have two of Egypt’s largest plants for producing orange concentrates, tomatoes, various fruits, and essential oils. It will also have the Middle East’s first Cloudy Products plant and one of the world’s largest freeze-drying facilities. Moreover, the complex will have a plant for freezing fruits and vegetables, which will boost the agricultural food industry and increase Egyptian exports of high-quality products worldwide.
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