Cargill Planning Major Grain and Edible Oil Investments in Egypt
A Cargill delegation led by Roger Johnson, company regional director for Europe and the Middle East, recently had a meeting with Egypt’s Minister of Industry and Trade, Tarek Kabil during which the two parties discussed Cargill’s plans in the country.
The company is committing $10 million in new investments to add 42,000 tons of grain storage capacity at Egypt’s Daqahleya port, and is implementing new investments to expand its vegetable oils project in Borg El-Arab scheduled to be completed this coming October.
The delegation also expressed the company’s intention to allocate further investments into Egypt’s promising agriculture, food, and grain storage and logistics sectors, and its intention to secure cooperation with the Egyptian government regarding food safety standards.
Cargill has been active in the grain and oilseed sectors in Egypt since 1994 and has been active in soybean crushing in the country since 2004 through its stake in the National Vegetable Oils Company.