By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity
    September 22, 2023
    Egypt's Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
    Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
    September 21, 2023
    ABB allocates €13bn for green transformation by 2030
    ABB allocates €13bn for green transformation by 2030
    September 21, 2023
    DMZ Cairo Demo Day 2023 showcases Egypt's top tech startups
    DMZ Cairo Demo Day 2023 showcases Egypt’s top tech startups
    September 21, 2023
    Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo
    Valu partners with Le Marche, Electrotech to offer payment solutions for furniture, electronics Expo
    September 21, 2023
  • Politics
    PoliticsShow More
    CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
    CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
    September 22, 2023
    Egyptian Health Minister highlights country's interest in local drug manufacturing
    Egyptian Health Minister highlights country’s interest in local drug manufacturing
    September 21, 2023
    Egypt leads meeting to urge global support for Sudan’s humanitarian crisis
    Egypt leads meeting to urge global support for Sudan’s humanitarian crisis
    September 20, 2023
    Egypt and EU co-chair GCTF meeting, reaffirm commitment to fighting terrorism
    Egypt and EU co-chair GCTF meeting, reaffirm commitment to fighting terrorism
    September 20, 2023
    Children dying in Sudan amid healthcare system collapse
    Children dying in Sudan amid healthcare system collapse
    September 20, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: HCFI receives 7 local, international offers for partnership in food projects: Chairperson
Share
Notification
Latest News
CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
Politics
Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity
Real Estate
Egypt's Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Business
ABB allocates €13bn for green transformation by 2030
ABB allocates €13bn for green transformation by 2030
Business
DMZ Cairo Demo Day 2023 showcases Egypt's top tech startups
DMZ Cairo Demo Day 2023 showcases Egypt’s top tech startups
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Politics > HCFI receives 7 local, international offers for partnership in food projects: Chairperson
Politics

HCFI receives 7 local, international offers for partnership in food projects: Chairperson

Daily News Egypt
Last updated: 2022/12/12 at 11:43 AM
By Daily News Egypt 4 Min Read
Share
HCFI receives 7 local, international offers for partnership in food projects: Chairperson
SHARE

Ahmed Hassanein, the chairperson of Holding Company for Food Industries (HCFI), has revealed that the company has received seven offers from local and foreign companies to partner in three investment opportunities offered by the Ministry of Supply and Internal Trade to establish complexes for cooking oils.

Hassanein explained that the investment opportunities offered are represented in the Borg El Arab in Alexandria in an area of​​137,000 square meters. It includes factories for oil extraction, refining and bottling of oils and the production of jam. They are also in the Sohag region on an area of ​​120,000 square meters, in addition to the industrial complex in Amiriya dedicated to the production of industrial detergents.

He added that this comes within the framework of the directives of the political leadership to develop the oil industry and production as a strategic commodity necessary for the citizens.

The chairman of the Company said in his statements today, Sunday, that those offers submitted by a specialized advisory committee are currently being considered, and will be presented to Ali Moselhy, the Minister of Supply and Internal Trade, noting that the participation with the private sector may reach 76%.

Egypt’s consumption of oils amounts to about 2.4 million tonnes annually, and Egypt imports about 97% of its needs.

On the other hand, Hassanein said that the Holding Company for Food Industries aims to develop a giant oil terminal in the port of Alexandria, in order to increase its storage capacity from 72,000 tonnes to 250,000 tonnes.

He said that feasibility studies for the project are underway through a consulting office, expecting the study to be completed within two months and implementation to begin next February.

He added that within the framework of coordination with all parties, the Ministry of Transport has provided land in the port in order to accommodate the new tanks.

He explained that the station, which will be equipped with the latest modern technology, will allow companies operating in the private sector to obtain their needs of crude oil.

Regarding the strategy of the Company for Food Industries to develop subsidiaries and raise their efficiency, Hassanein explained that the companies that achieve losses were merged into other companies to create large new entities that help achieve profits. Al-Ahram Company for Complexes was merged with the Nile Company for Complexes, and the Egyptian Company for Starch, Yeast and Detergents was also merged with The Alexandria Company for Oils and Soap, and the Egyptian Company for Poultry Meat with the Egyptian Company for Fish Marketing, pointing out that the new entities will have an export rate of no less than 30% of the production volume.

Hassanein also indicated that a consulting office was hired to study the development of the Greater Cairo Bakeries Company, which is affiliated with the Holding Company for Food Industries, indicating that the company has many assets and is spread all over Egypt.

With regard to the establishment of the Qaha and Advina industrial complex in Sadat City, Hassanein explained that the cost of the project will amount to EGP 9bn.

The Holding Company for Food Industries is preparing to provide a strategic reserve of basic commodities closer to the month of Ramadan, in which consumption rates increase. Hassanein added that the company has a strategy since the Coronavirus pandemic that depends on forming a reserve that could last for four to six months.

You Might Also Like

CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’

Egyptian Health Minister highlights country’s interest in local drug manufacturing

Egypt leads meeting to urge global support for Sudan’s humanitarian crisis

Egypt and EU co-chair GCTF meeting, reaffirm commitment to fighting terrorism

Children dying in Sudan amid healthcare system collapse

TAGGED: HCFI
Share this Article
Facebook Twitter Email Print
Previous Article Launching the second annual edition of the Impact@Work social entrepreneurship programme Launching the second annual edition of the Impact@Work social entrepreneurship programme
Next Article Vortex Energy injects second investment tranche of €46m in Ignis Vortex Energy injects second investment tranche of €46m in Ignis
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
Politics
Mountain View Sets New Standards for Life Experiences Built On the Science of Happiness at iCity
Real Estate
Egypt's Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Egypt’s Emigration Minister meets with founding board of Egyptians Abroad for Investment Company
Business
ABB allocates €13bn for green transformation by 2030
ABB allocates €13bn for green transformation by 2030
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?