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Sunday, 12 July 2020

Mars Wrigley to increase investments in Egypt over the next two years

INVESTMENT WATCH- Mars Wrigley is planning to increase its investments in Egypt over the next two years, Mars Egypt Director Dalia Salib said on Thursday, according to a cabinet statement. Salib did not specify how much the confectioner plans to invest during this time period, but noted that it has committed a total of USD 200 mn in Egypt. Mars is also planning to expand its production lines at its factory in Sixth of October City. The company had invested EGP 2 bn in 2018.

Meanwhile, Edita has put investment plans on hold until the pandemic subsides, Chairman Hani Berzi told Al Shorouk. The homegrown snackfood giant was planning to invest EGP 750 mn in its operations in Egypt and Morocco but plans have been largely frozen due to declining sales and falling exports, Berzi said. It will focus on existing products and its under-construction plant in Morocco, which is set to begin operations by the end of the year.

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