Egyptian Emirates for Food Industry (EGAIEF) intends to invest EGP 120m this year, next to reducing its rice cultivation area to boost pasta output.
Chairperson of the company Alaa Ezzat said that exports reached $15m last year, with a planned 15% growth this year.
He explained that the company will open a new pasta production line at a cost of EGP 120m, due to be completed before the end of this year, which would contribute to boosting the productivity of the company by 20%.
Ezzat said that the company initially exported to only three states in the US last year and expanded in the second half of the year to a number of new states, after producing larger 10 kilogram packages, which see high demand from restaurants.
The company seeks to increase the number of countries receiving its products, especially in East Asia, including the Philippines, India, and Japan, in addition to Latin American countries and expanding in African countries.
He pointed out that the company plans to set up a new plant and mill with initial investments estimated at EGP 300m, but the project is still subject to further studies.
Ezzat said that the company is interested in participating in specialised international exhibitions, such as SIAL and Anuga FoodTec as well as Gulfood, in order to find new clients from African countries and Arab communities in European countries.
He explained that Turkey—one of the largest competitors to Egyptian products in global markets—currently suffers from some constraints in its pasta industry, which led to the decline of its exports, opening the door to Egyptian companies to obtain a larger share.
He added that the decision by the Ministry of Irrigation to reduce the allowed cultivated area of rice during the next season will support the expansion of the pasta industry as an alternative that is acceptable to Egyptian consumers.
Moreover, he said that the food industry will increasingly attract foreign investments during the coming period because of the low investment cost.
EGAIEF produces several products under its brand and manufactures for other internationally recognised pasta brands.
The company exports to several countries around the world including ones in Africa and East Asia, as well as the United States, and aspires to cover all world markets, supported by modern technology to expand its production lines.