Egyptian Investment Minister Osama Saleh announced on Thursday plans to initially allocate around 1000 feddans in Upper Egypt region in favour of Kuwaiti conglomerate Alghanim Industries’ agro-industrial project.
The Kuwaiti firm is currently estimating the investment cost for its project in Upper Egypt.
From his part, Alghanim Industries Group’s Chairman Kutayba Alghanim said his firm is aiming to set up a project in the Upper Egypt designed to export all kinds of trees needed by the new cities in the Arabian Peninsula.
The Kuwaiti business tycoon further added that Alghanim Group will start the implementation within the upcoming period.
Meanwhile, Minister Saleh noted that choosing the Upper Egypt region to carry out Alghanim’s project was to facilitate the transfer process of trees to the Arab Gulf countries.
