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Sunday, 15 November 2020

Cairo 3A to invest EGP 7 bn in Bahariya poultry farm till 2023

INVESTMENT WATCH – Agriculture trader Cairo 3A plans to invest EGP 7 bn in its poultry farm project off of the Bahariya Oasis road over the next three years, company chairman Mona Mehrez told the local press. Some EGP 2.5 bn will be dedicated to the project’s first stage, which should produce 60 mn chickens annually, while the EGP 4.5 bn second stage should take production to 200 mn. Cairo 3A signed an agreement with worldwide poultry breeder Hubaard last week to begin importing a high-efficiency chicken breed to Egypt, the local press reported.

Background: Cairo 3A expanded into poultry farming with the purchase of a 50% stake in Pyramid Poultry in January 2020. The company has secured an EGP 1.26 bn syndicated loan in August to finance the establishment of poultry farms in Giza. Cairo 3A also has business in the animal feed industry, having acquired 97.5% of the Egyptian Starch and Glucose Company earlier this year.

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