Cargill plans investment in Egypt development projects
CAIRO, February 13, 2017
US-based Cargill, a leading provider of food and industrial products, plans to invest in major development projects in Egypt, said a report.
The US company is presently working on a major grain storage project in the Egyptian port of Daqahleya in a bid to boost its storage capacity by another 42,000 tonnes, reported Daily News Egypt, citing the Minister of Industry and Trade Tarek Kabil.
Kabil was speaking after meeting a Cargill delegation, headed by Roger Johnson, the regional director for Europe and the Middle East.
The company is planning more investments in the key sectors of agriculture, food and grain storage and transport logistics, said Johnson.
The key projects include plans to expand its vegetable oils production unit in Borg El Arab.
With Egypt offering great investment opportunities, Cargill plans to boost its investments in the country to $300 million, he added.