Egypt’s MAFI signs $300M contracts to set up largest food industries park in Middle East
Updated 12/27/2023 11:26:00 AM
Arab Finance: The Egyptian provider of agri-food products MAFI has signed several contracts with representatives of international technology solutions providers in the food sector to establish the largest park of food industries in the Middle East with investments of up to $300 million, as per a statement.
The global firms are JBT Corporation, GEA Group, and Cabinplant.
The park is set to be established on a 154,000-square-meter area in Sadat City and will include five factories, MAFI’s Chairman Ahmed Abou Hashima noted.
Moreover, it will produce over 100,000 tons of agricultural products annually in the first phase, in addition to providing more than 7,000 direct and indirect job opportunities, he pointed out.
Abou Hashima added that the project aims to export over 80% of its production abroad in order to boost the Egyptian economy by striking a balance between imports and exports.
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