Al Arabiya Business-


Egypt’s Supreme Holding has launched a joint venture (JV) with an unnamed British firm for the establishment of four factories for animal feed, concentrators, and chemicals in Egypt with up to $30 million in investments, Supreme Holding’s Chairman Moharam Helal told Al Arabiya Business.

The JV, dubbed Continental Investments, will be in charge of setting up firms to manage the four factories, Helal noted.

The factories are set to be built on a 57,000-square-meter area in 10th of Ramadan City within 2024 and 2025, Helal said.

Continental Investments will earmark $15 million to carry out the first factory for concentrators production, which is scheduled for operation within two months, he highlighted.

Once the first factory is launched in mid-March, the company will work on building the other two factories before the end of 2025, he said, adding that the fourth factory will be operational in 2025.

Egypt imports $350 million worth of cat and dog food annually, and manufacturing them locally saves massive USD spendings, he remarked.

Helal owns a 10% stake in the new JV, while the British company holds a 90% stake that will be self-financed via its resources abroad.