Minister of Industry and Trade, Tarek Kabil, said on Sunday that US company Cargill intends to develop its projects in Egypt during the next period.
A press release by the ministry said that Kabil met a company delegation, headed by Roger Johnson, the company’s regional director for Europe and the Middle East, to discuss the company’s projects in Egypt.
The statement added that the company is currently developing its grain storage projects in Daqahleya port with new investments of $10m to add a storage capacity of 42,000 metric tonnes.
Moreover, it stated that Cargill also intends to conduct more investments in Egypt to boost its current investments of $300m.
The statement added that the company is currently implementing new investments to expand its project to produce vegetable oils in Borg El-Arab. These expansions are to be completed in October.
Furthermore, the statement quoted Roger Johnson as saying that they will generally inject more investments into Egypt.
He added that Egypt has great investment opportunities in the fields of agriculture, food and grain storage, and transport logistics.
He noted that the company is seeking further cooperation with the government agencies concerned with food safety standards, in order to expand the scope of cooperation between the company and the Egyptian government in the supply of grain and agricultural products to the Egyptian market.