Egypt to establish the "Suez Canal Healthy Food Industries" company

CAIRO – 1 August 2021: Head of the Suez Canal Authority, Osama Rabie, witnessed, on Sunday, the signing of a shareholder agreement between Timsah Shipbuilding Company, and Healthy Milk and Healthy Family Companies, to establish an Egyptian joint stock company “Suez Canal Healthy Company for Food Industries” to implement businesses and projects related to food industries.

The new company aims to participate in the implementation of presidential directives to achieve food security and bridge the nutritional gap in animal protein through the expansion of livestock breeding activity, to produce breeds and fattening, and to establish meat factories, dairy and juice factories, and fruit sorting and drying stations, according to a statement issued by the authority.

For his part, Osama Rabie affirmed his keenness to expand the scope of work in the companies affiliated with the authority within the framework of the existing development and modernization plan and to establish new industrial entities in partnership with private national companies to add new activities needed by the Egyptian market in various sectors that contribute to providing job opportunities for young people and achieving self-sufficiency in products and important indispensable industries.

The memorandum of understanding was signed by a representative of the Suez Canal Authority, Mohamed Saeed, Chairman of the Board of Directors of Timsah Shipbuilding Company, while Mustafa Lotfy Abdullah, representing the Healthy Milk Company, and Mohamed Mustafa Lotfy, representing the Healthy Family Company.