Arab Finance: Elsewedy Industrial Development Company has signed a land sale agreement with the Polish company Fruitful, which is the first of its kind in the frozen food industry sector, according to a statement.

The agreement makes Fruitful the first Polish investor in Elsewedy Industrial Development's frozen food industry projects, located in the 10th of Ramadan City.

The signing ceremony was held at the General Authority for Investment and Free Zones (GAFI), attended by Hossam Heiba, CEO of GAFI, Michal Murkocinski, the Ambassador of Poland to Egypt, and others.

Meanwhile, the deal covers the construction of an advanced factory for producing frozen foods using the incoming quick flow (IQF) method and freeze-drying technologies.

Spanning 8,000-8,853 square meters, the project will have a monthly production capacity of up to 600 tons and an annual capacity of 7,200 tons, with the majority of production allocated for export.

The project is expected to create more than 5,000 direct and indirect job opportunities across various value chains, including strawberry and mango farms, food processing plants, cold storage, and logistics services

It will contribute to boosting production efficiency as well as the quality of agricultural and industrial products in Egypt.

For his part, Heiba lauded the authority’s role in facilitating procedures and securing investment incentives and guarantees, which support attracting value-added industrial investments and increasing exports.

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