Egypt, China to launch $7B agriculture complex in El Wadi El Gedid

CAIRO – 26 November 2024: Chinese investors, in partnership with Egypt’s private and public sectors, have launched a $7 billion investment alliance to develop a vast agricultural complex spanning 1 million acres in El Wadi El Gedid Governorate.

Mohamed Alaa, Secretary-General of the Egyptian-Chinese Businessmen Association, revealed the plans to Asharq Bloomberg, noting that the project is supported by the Chinese government and funded by private Chinese companies.

The initiative’s first phase, set to cultivate 1,000 acres, is expected to conclude by September 2025.

Discussions with the Egyptian Prime Minister will determine the timeline for subsequent phases.

The project aims to produce key strategic crops such as wheat, corn, soybeans, and sunflowers, alongside a variety of fruits intended for export to European markets.

Egypt, one of the world’s largest wheat importers, currently purchases up to 12 million tons annually for its public and private sectors. The collaboration seeks to reduce dependence on imports, strengthen local production, and conserve foreign currency.

According to Egyptian Minister of Agriculture and Land Reclamation, Alaa Farouk, representatives from both the Chinese alliance and the Egyptian government recently visited El Wadi El Gedid to identify opportunities for cultivating wheat and other strategic crops.

 Additionally, the partnership will grow corn, fruits, and high-value medicinal and aromatic plants, utilizing efficient water-saving techniques. Greenhouses, nurseries, and date palm farms are also planned, with a focus on exporting the produce, especially to Europe.

Since 2015, the Egyptian government has prioritized reclaiming and cultivating 1.5 million acres across various regions, including Upper Egypt, the South Valley, and Sinai.

Farouk further highlighted that the alliance will establish an advanced agricultural research center and an integrated agricultural-industrial hub in El Wadi El Gedid, aimed at fostering local agricultural industries.

Plans also include renewable energy projects and facilities for converting date palm fronds into wood, aligning with sustainable development goals.