Saudi Company to Carry Out Giant Date Project in Egypt
Source: www.export-egypt.com 5/18/2018
A big Saudi company working in the agricultural field is set to carry out a giant project to cultivate and produce dates and olives in Egypt with a total capital of EGP 2 billion, Trade and Industry Minister Tareq Qabil revealed .
The announcement came during an expanded meeting between the minister and a delegation of Zadna Agricultural Investment and Real Estate Development Company led by its board chairman Abdul Wahab Saleh Al Rajhi.
The Saudi company started a project to cultivate 1,000 feddans of palm trees in el Wahat el Bahariya, Qabil said.
The coming phase will witness establishing a factory by the Saudi company for dates' production, in addition to providing a number of refrigerators for storing dates, Qabil added.
The Trade Ministry targets increasing the production of dates and shoring up Egypt's competitive edge in this area, which in turn could help boost Egyptian exports, secure more jobs for young men and reduce unemployment rates, Qabil noted.
Egypt is ranked first worldwide in the production of dates, with a percentage of 18% of the global production, he underlined.
He stressed the importance of merchandising Egyptian dates in global markets and giving more attention to packaging processes.
For his part, Rajhi said the company has been interested in the Egyptian market since 2002 for being one of the most promising markets for dates' production in the Middle East and Africa.
The company is coordinating with bodies concerned at the trade ministry to reach desirable quality standards, with the aim of facilitating logistics and storage operations, he added.