$100M feed factory in Egypt discussed with Chinese company New Hope

CAIRO - 5 December 2024: A study of establishing a $100-million feed factory complex in Egypt was discussed Wednesday in a meeting between Minister of Local Development Manal Awad and a delegation of Chinese company New Hope, a pioneer in the field of agriculture and renewable energy.

The available opportunities to localize Chinese industries in Egypt, benefit from Chinese expertise in the fields of agricultural manufacturing and renewable energy, establish industrial zones in various governorates, were laid out in the meeting in the Administrative Capital.

Awad noted that such investments would continue to build bridges of economic, trade and cultural cooperation between the two countries. 

New Hope was represented by Liu Chang, Chairwoman of the Board of Directors of the company. The company's delegation included Tao Yu Ling, CEO of the company, Wang Wei Yong, Senior Advisor to New Hope Company, and Shao Wen, General Manager of the company in Egypt.

For her part, Liu Chang highlighted the company's determination to expand its investments in Egypt, praising the support of the Egyptian government in several aspects, including the field of value-added tax, attracting foreign investments, providing land for new projects, and facilitating investment procedures. 

Liu Chang pointed out that the company has taken a global ranking in the production of feed and food chains and has many investments outside China, but Egypt is one of the most important countries in which they seek to increase investment, especially in the field of feed production and fish farms. 

Thus far, 5 feed production factories have been established in Egypt in the governorates of Menoufia, Beni Suef, and Beheira in the cities of Hosh Issa and Wadi El Natrun, and the city of Gamasa in Dakahlia, where they were able to produce 650,000 tons of feed annually, representing 10% of production in Egypt, according to Chang.

The total financial investment has reached $70 million so far. The company plans to invest $100 million, as well as to expand the production capacity to one million tons per day.

The Egyptian employment rate within the company is about 94%, she highlighted, noting that their partnership will enhance the Egyptian workforce and talents and allow the Egyptians to master Chinese technology for this industry.

Wang Ji, Vice President of the Egyptian-Chinese Businessmen Association, Mohamed Alaa, Secretary General of the Association, Hossam El-Qawish, Assistant Minister of Local Development for International Cooperation also attended the meeting.