UAE based Al-Zahera company spent around EGP 750m on investments in Toshkha, the company’s Chairman of the Board of Directors Khadeem Abdullah Al-Deree said.
He added: “We have 100,000 acres in Toshkha and 17,500 acres in East Owaynat, which are fully cultivated.”
In the presence of Al-Zahera Egypt CEO Suleiman Al-Nuaimi, Al-Deree invited Prime Minister Ibrahim Mehleb to visit Toshkha and East Owaynat in order to inspect the agricultural projects there.
Al-Deree said, according to a statement issued on Tuesday, that his company will begin developing 30,000 acres over the next year as part of the first phase of cultivating a total of 100,000 acres in Toshkha.
Mehleb responded by saying that he will visit the projects soon.
The invitation came during a meeting Tuesday between Mehleb, UAE Minister of State Sultan Al-Jaber, and officials from the Al-Zahera company, which has a number of investment projects in Egypt.
At the beginning of the meeting, Mehleb said: “We are responsible for solving all investment problems and improving the investment climate in Egypt in general… my office is open 24 hours a day and we are ready to solve any problem.”
Mehleb contacted various ministers in order to overcome some of the obstacles that the Al-Zahera company faces in some of its projects, and promised to resolve these challenges as soon as possible.
According to Al-Deree, the company owns a factory that assembles and dries animal feed which includes wheat, barley, and corn. These projects were previously not put to use and burned, a process that exerted negative environmental impacts. The company also has a citrus plantation in Salheya on an area of 3,000 acres which began production five years ago.
Al-Deree added: “We are optimistic about the climate for attracting investments at this stage,” and explained that he expects the company’s projects in Toshkha to provide agricultural products and job opportunities.
At the end of the meeting, Mehleb welcomed the Emirati investors, stressing that the government is currently working on providing a suitable climate for attracting investments to Egypt. This process will help the nation implement development plans and provide job opportunities for young people, he said.