Cabinet grants 2 golden licenses for Lesaffre, Huhtamaki
Updated 1/19/2025 11:39:00 AMArab Finance: The Cabinet granted two golden licenses to two projects in Egypt, as per a cabinet statement.
The first license was granted to Lesaffre Egypt for establishing and operating a yeast production and packaging facility in Beheira Governorate.
The factory will be developed on an area of about 43,800 square meters in the second industrial zone in New Nubaria, with investments totaling € 120 million.
The project will have an annual production capacity of 22,600 tons of instant and active dry yeast, with the first phase set to be completed in August 2026, while the second phase will follow in August 2028.
More than 90% of the project’s output is set to be earmarked for exports, while the local component ratio will surpass 50%.
The second golden license was obtained by Huhtamaki Egypt for its factory to manufacture molded fiber packaging of all types, sizes, and shapes.
The project’s value stands at EGP 1.5 billion, including €24 million as foreign direct investment (FDI).
Established in Sadat City on an area of around 21,700 square meters in Sadat city, the project aims to export 70% of its production to global markets while scaling up the local component to reach 70%.
On January 1st, Minister of Investment and Foreign Trade Hassan El-Khatib handed over nine new golden licenses to strategic investment projects
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