Abdulaziz Al-Tuwaijri, Chairperson of Hadhim company for dates, said they aim to invest in the Egyptian market and plant 10 million palm trees in New Valley governorate, in cooperation with the Egyptian private sector, starting from next year.
He added that Hadhim has worked with several companies affiliated to the Egyptian Armed Forces for more than 15 years.
The Egyptian government will choose the private sector companies that would cooperate with Hadhim in the coming period, he stated.
Al-Tuwaijri said there is also a plan to recycle palm waste to produce timber, which would increase revenues and preserve the environment.
According to official data, the Egyptian government plans to expand in the cultivation of palm trees by adding 10 million new palm trees. Egypt currently has about 14 million palm trees.
Hadhim was established in 1992. It began its activity in the trade of dates, then developed into the establishment of farms. The company’s products include dates, popular foods, tea, coffee, honey, olive oil, dairy and its derivatives.
On Tuesday, the General Authority for Investment and Free Zones hosted a signing ceremony of 14 investment agreements between the Egyptian and Saudi sides, worth a total of $7.7bn, in the sectors of infrastructure, logistics, port management, food industries, pharmaceuticals, traditional and renewable energy, electronic payment, financial and information technology solutions.