Minister of Trade and Industry, Tareq Qabil announced today that the Polish Polfa Group is about to set up its first dairy production complex with an initial investment of EGP600 million in the Egyptian industrial city of 10th of Ramadan, east Cairo.
During a meeting with Rafal Bednarczyk the President of Management Board and Chief Executive Officer of POLFA, Qabil explained that the first phase will involve the production of baby formula, and will be funded by the Polish Development Bank. The second phase will focus on dairy products such as cheese and butter. The total investment of the project amounts to some EGP1.5 billion, the Minister said, with production expected by year-end.
Mr Qabil said production would cover the needs of the local market in baby formula which has suffered occasional shortages, with a portion left for export.
Mr Bednarczyk said his company was looking forward to pumping investment in the Egyptian market which, he said, was very promising.
31 January 2018