Nouna Juices and Concentrates Company is pumping investments estimated at EGP 26m this year, in partnership with investors from abroad, to open a new factory for producing tomato paste in the industrial zone of Qena.
Waleed Fathy, general director of Nouna Juices, said that the company’s new factory is the result of a partnership with a Jordanian investor.
He added that the factory is located on an area of 10,000 sqm, and includes a production line with a capacity of 40 tonnes of tomato paste per day.
He pointed out that the company went to Upper Egypt because of the high quality of the tomato winter crop.
He explained that the company aims to export 3500 tonnes of tomato paste from the new factory to Arab Gulf countries and Jordan by the end of this year, with initial contracts ranging between 700 and 1500 tonnes.
He pointed out that the company currently produces jam, juices, syrups, and salsa, under the brand name, Nouna.
The company seeks to double its exports to reach EGP 24m this year, compared to less than EGP 10m last year.
He explained that the company was established in 2013 with the goal of exporting 99% of its production and launching 1% in the local market, but the goal has shifted to a target of 20% for local production.
The company exports to Palestine, Jordan, Iraq, Mauritania, Nigeria, Ethiopia, and Saudi Arabia. There is a plan to export to East Europe by the end of this year.
He stressed the stability of the price of products locally and in exportation, in line with the prices of competing companies, pointing out that acquisition jam and syrups account for the largest share demanded in foreign markets.
He pointed out that his company acquired the ISO certificate “22000 – 9001” because of its comprehensive quality and commitment to international standards for food production.