CAIRO, Dec. 27, 2023 /PRNewswire/ — Renowned entrepreneur Ahmed Abou Hashima has revealed plans for a groundbreaking agri-food industrial complex, set to become the largest in the Middle East. With a significant investment of up to $300 million, the project is being undertaken in collaboration with a foreign investor.
At the Council of Ministers headquarters, an auspicious signing ceremony unfolded, in the presence of key dignitaries including Dr. Mostafa Madbouly, the Prime Minister, Ahmed Samir, the Minister of Industry, Hossam Hibah, the CEO of the General Authority for Investment, and Ahmed Abou Hashima, Founder and Chairman of MAFI Company for Agricultural Produce Industries. Additionally, representatives from leading global companies specializing in cutting-edge agri-food technologies were also in attendance, emphasizing the collaborative spirit of the occasion.
MAFI for Agricultural Produce Industries, under the leadership of Ahmed Abou Hashima, has unveiled plans for a sprawling agri-food complex. Spanning an expansive area of 154,000 square meters in Industria Sadat City, this visionary project is set to redefine the industry landscape.
Comprising five state-of-the-art plants, the complex is set to become a beacon of innovation and productivity. Among its notable features are two of Egypt’s largest plants dedicated to the production of orange and tomato concentrates, as well as various fruit products and citrus oils. Notably, it also houses the first-of-its-kind cloudy product plant in the Middle East, showcasing a commitment to pioneering advancements. Furthermore, the complex boasts one of the world’s largest freeze-drying facilities for fruits and vegetables, along with a cutting-edge factory for freezing these perishable commodities.
The complex has an impressive annual production capacity of over 100,000 tons of agricultural food products in Phase I, with an estimated turnover of USD 200 Million. In Phase II, the production capacity will expand to reach 200,000 tons, equivalent to a turnover of USD 400 Million.
This remarkable feat is made possible through strategic collaborations with prominent international companies renowned in the field. Notable partners include JBT and Cabin Plant from the United States, as well as GEA from Germany, all of which bring their expertise and cutting-edge technologies to the table.
To ensure the project’s financial viability and feasibility, comprehensive financial studies were conducted by Beltone Holding Company. Additionally, market studies were undertaken by the reputable American BCG Company, providing invaluable insights into market dynamics and consumer trends.
Ahmed Abou Hashima unveiled the remarkable potential of this complex, which is set to create over 7,000 direct and indirect job opportunities. By generating significant employment opportunities, the project aims to contribute to the growth of the Egyptian economy while striving to achieve a balance between imports and exports. In line with its ambitious vision, the complex is geared towards exporting over 80% of its production. This strategic approach not only enhances global market reach but also bolsters foreign direct investment and financing, denoted in dollars.
Mr. Luca Bordini, the General Manager of JBT Company praised the advanced level of technology and the high quality that MAFI complex will deliver to global markets.
Mr. Sunil Kumar, the CEO of GEA Company, conveyed his immense satisfaction with the partnership with MAFI Company in setting up one of the largest plants worldwide, equipped with state-of-the-art freeze-drying technology. The primary objective is to boost the Egyptian food sector’s ongoing attempts to enhance their global exports. Recognizing the Egyptian market’s growth potential, this collaboration aims to contribute significantly to its expansion on a global scale.
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