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El Welely Group completes industrial complex with investments of EGP 150m before end of year.

El Welely Group intends to complete the project of the industrial complex, which is based on a survey of 15 thousand square metres in the Borg El Arab region, before the end of this year with an investment of EGP 150m.

Magdy El Welely, chairperson of the board of directors of the group and deputy chairperson of the Exporters of the Federation of Chambers of Commerce, said that the company has approached the completion of the industrial complex, which includes a screening plant and lentils with a production capacity of 120 tonnes per day and 7 large silos for storing lentils, beans, chickpeas, and maize.

He added that the complex also includes several small silos to reach the total storage capacity of 9000 tonnes, and also includes refrigerators to store vegetables with storage capacities ranging from 7000 to 9000 tonnes.

The volume of exports of the group was estimated at $44m during the first half of this year through the two companies--Unicom, specialised in the export of beet feed, and El Welely for Crops, specialised in the export of vegetables and legumes--expected to total exports to $75m by the end of 2017.

He pointed out that the company is seeking to expand in the African market during the coming period, where it was agreed with the Export Credit Guarantee Company to ensure the fight to enter the African market.

The Export Credit Guarantee Company has identified 14 African countries, including Tanzania, Uganda, and Kenya, to provide information services to exporters with all details of the banking system in African countries, as well as data on the importer fees ranging from $90 to $120.

El Welely Group called on the Ministry of Industry and International Trade to reconsider the decision to stop the export of rice break, which threatens to withdraw important markets from the Egyptian market, including the European Union, especially since there is an agreement to export 96,000 tonnes of rice break without any customs duties. Currently the price per tonne is $180.

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Publication:Daily News Egypt (Egypt)
Date:Sep 6, 2017
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