The Egyptian province of Beheira has witnessed a significant investment in its industrial sector with the laying of the foundation stone for the second phase of the Newhope factory. The project, valued at 1.2 billion Egyptian pounds ($75 million), aims to establish a new plant specializing in livestock feed production. The event was attended by Beheira Governor Dr. Jacqueline Azer and Chinese Consul General in Alexandria Xue Min.
The second phase of the Newhope factory is set to be constructed on a 22,000 square meter plot within the industrial zone of Hosh Eissa city. Once completed, the plant is expected to have an annual production capacity of 240,000 tons of livestock feed. The project is anticipated to create around 280 direct job opportunities and 12,000 indirect jobs. The construction of the new plant is scheduled to be completed by September 2027.
The Newhope factory is an Egyptian-Chinese joint venture that has been operational since 2017. The first phase of the project involved the production of poultry feed with an investment of 1.2 billion Egyptian pounds and an annual production capacity of 280,000 tons. The company has expressed its commitment to expanding its operations in Egypt, with the second phase marking a significant milestone in its growth strategy.
Beheira Governor Dr. Jacqueline Azer emphasized the province's focus on supporting serious and targeted investments, both locally and foreign. She highlighted the importance of the Newhope factory as a model for Egyptian-Chinese investment cooperation and its contribution to the province's production sector. The governor also stressed the province's efforts to create a favorable investment climate and provide support to investors.
Chinese Consul General Xue Min reiterated her country's commitment to strengthening its strategic partnership with Egypt through expanded investments and technology transfer. She noted that the cooperation between Egypt and China would provide opportunities for knowledge sharing and the development of agricultural and animal production methods. The consul general also praised the Newhope factory's role in supporting Egypt's livestock sector and contributing to the country's economic growth.
The Newhope factory's expansion is expected to have a positive impact on the Egyptian economy, particularly in the livestock sector. The company's use of advanced technology and equipment will enable it to produce high-quality feed that meets the needs of local farmers. The project's success is also anticipated to attract further investments and create new job opportunities in the region.
Upon completion, the Newhope factory will comprise two plants specializing in poultry and livestock feed production, with a combined annual production capacity of 520,000 tons. The project is expected to play a significant role in supporting Egypt's livestock sector and contributing to the country's economic growth. The company's commitment to quality and customer satisfaction has earned it a reputation as a leading player in the Egyptian market.
Key points
- The Newhope factory expansion is a significant investment in Egypt's industrial sector, valued at $75 million.
- The project is expected to create around 280 direct job opportunities and 12,000 indirect jobs.
- The factory's annual production capacity is anticipated to reach 240,000 tons of livestock feed upon completion.
