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Sunday, 15 September 2019

Regional investors looking at Egypt’s 1.5 mn feddan project

INVESTMENT WATCH- Regional investors eyeing 1.5 mn feddan project: The Egyptian Countryside Development Company (ECDC) has received three offers from regional investors to develop land as part of the 1.5 mn feddan project, Chairman Ater Hanoura told Al Mal. Saudi Arabian company Dallah Al-Baraka is seeking 25k feddans in Al Maghrah for poultry and olive farming. Meetings with the Saudi company will be taking place in the next couple of days to decide on exact plans. Hanoura said the Arab Authority for Agricultural Investment and Development (AAAID) has also made an offer and is expected to ask for at least 50k feddans in west Minya while a consortium of Egyptian businessmen in Oman has made an offer for 5k feddans and to set up an agricultural company. The ECDC has also allocated 19k feddans in west Minya to an Indian cotton and textile company, Hanoura said without naming the company.

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