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Tuesday, 18 July 2017

Tahya Misr to invest EGP 800 mn in extracting sugar from dates

The Tahya Misr Fund is planning to invest EGP 800 mn in a factory to extract and export sugar from dates, fund director Mohamed Ashmawy tells Al Borsa. The company will be established in cooperation with the Military Production Ministry and Emirati agriculture investment company Jenaan. The fund has completed feasibility studies to plant 20 mn palm trees in Siwa, West Minya, and Toshka for the first phase of the project, and aims to plant 100 mn palm trees by 2030. The company also has expansion plans to cultivate and export other crops in hopes of reducing Egypt’s reliance on imports.

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