Adding that: The Egyptian Sudanese Company for Development
and Multiple Investments scope of work, stipulated in the memorandum of understanding
signed just a few days ago, focuses on general trade and distribution, as well as
investments in the animal and plant wealth domains. He further pointed out that
the headquarters will be in Cairo.
added in a statement by the Holding Company for Food Industries: The Company will
specialize in fattening and producing livestock, calves, and their products and
derivatives, whether for the Egyptian market or for export, as well as cultivating,
producing, importing, and exporting all agricultural and oil crops in both countries.
The Company
will also focus on cooperation in the following areas: Oilseed crushing and refining,
sugar, sesame, rice, wheat, peanuts and its by-products, cotton, vegetables and
fruits, juices and concentrates, chemical fertilizers, disinfectants, and detergents.
Moreover, the Company will explore opportunities for collaboration in the production
and trade of other products through importing, exporting, and other domains that
benefit the national economy of both countries.
The Chairman
of the Holding Company for Food Industries pointed out that the new Company involves
the participation of both the Holding Company for Food Industries, affiliated with
the Ministry of Supply, and the South Valley Company for Development, a subsidiary
of the Holding Company for Construction and Development, affiliated with the Ministry
of Public Business Sector, and Etegahat Group, affiliated with the Sudanese Ministry
of Defense.
He added
that there has been an extensive strategic partnership with the brotherly state
of Sudan for over 6 years, especially in the field of live meat. This
partnership has contributed to stabilizing the prices of fresh meat in the Egyptian
market. He emphasized that the success of the strategic cooperation between the
Holding Company for Food Industries and Etegahat Ltd. led to the establishment of
the new Egyptian Sudanese Company, serving the people of the Nile Valley with the
aim of achieving economic integration and food security for both countries.
