Chinese company New Hope will build a feed production complex in Egypt

Minister of Economic Development Manal Awad met last week with a delegation from Chinese company New Hope, a pioneer in agriculture and renewable energy. The meeting discussed the construction of a $100 million feed mill in Egypt.

The meeting voiced the possibilities of localizing Chinese industries in Egypt, using Chinese experience in the fields of agricultural production and renewable energy, and establishing industrial zones in different governorates.

Minister Awad noted that the investment will continue to strengthen economic, trade and cultural cooperation between the two countries.

New Hope was represented by Liu Chang, chairman of the company’s board of directors. The company’s delegation included Tao Yu Ling, CEO of the company, Wang Wei Yong, senior advisor of New Hope, and Shao Wen, general manager of the company in Egypt.

For her part, Liu Chang emphasized the company’s determination to expand its investment in Egypt, praising the support of the Egyptian government.

Liu Chang pointed out that the company is leading the world in feed production and has many projects outside China, but Egypt is one of the most important countries they are keen to increase investment in, especially in the fields of feed production and fish farms.

To date, New Hope has established 5 feed production plants in Egypt in the governorates of Menoufia, Beni Suef and Beheira, in the cities of Hosh Issa and Wadi El Natroun, and in the city of Gamasa in Dakahlia, producing 650,000 tons of feed annually, representing 10% of the total feed production in Egypt.

The total financial investment has reached 70 million dollars so far. The company plans to invest $100 million and expand its production capacity to one million tons.

Tags: China, Egypt, compound feed