Africa

Egypt inaugurates Farm Frites potato factory with US$40 million investment

Egyptian Minister of Trade and Industry Amr Nassar on Tuesday inaugurated the latest Farm Frites Egypt factory on the 10th of Ramadan, with investments of US$40 million.

The factory is located on an area of 9,300 square meters, providing 100 direct jobs and more than 5,000 indirect jobs.

Nassar stressed that the ministry seeks to raise the standards of efficiency and safety in the food processing sector, to make Egypt an industrial and export hub for food industries for the Arab countries and the Middle East markets

The opening ceremony was attended by Minister of Investment and International Cooperation Sahar Nasr and Piet de Bruijne Beit Dibrong, Chairman of Farm Frites International.

Nasr said that the company’s expansion domestically confirms the improvement of the investment environment in Egypt, especially for Dutch investments, which come second place in pumping foreign direct investments in Egypt at a total of $10 billion distributed to 648 companies.

Full report on Egypt Independent here