Arab Finance: The Egyptian Countryside Development Company has signed a land allocation contract with Elsewedy Capital Holding for the implementation of a mega agricultural investment project in the Farafra and Siwa areas, as per a statement.

Under the contract, the Food Platform, affiliated with Elsewedy Capital, will purchase a 15,000-feddan land plot for carrying out the project as part of the 1.5 million feddan project in the Farafra and Siwa areas.

The project is set to be funded and managed by a subsidiary of Elsewedy Capital. This company is scheduled to start the engineering and well drilling works within a few months.

The company is slated to complete the land reclamation works within two years as per the project’s feasibility study and timeline.

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