Arab Finance: China-based New Hope Group is considering setting up a feed production complex in Egypt, with $100 million in investment, according to a statement by the Ministry of Local Development Ministry.

This was discussed in a meeting between local development minister Manal Awad, members of the Egyptian-Chinese Entrepreneurs Association, and a delegation of New Hope Group.

The Chinese group is looking forward to expanding its investments in Egypt over the coming period, under the Egyptian government's support.

New Hope operates now five factories in Egypt, producing 650,000 tons of feed annually, which represents 10% of total feed production in Egypt.

The company also plans to boost production to 1 million tons a day.

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