Chinese investors, along with the private and governmental sectors in Egypt, formed an investment alliance to establish an integrated agricultural complex on an area of one million acres in the New Valley Governorate, which represents 44% of Egypt’s total area, with investments estimated at about 7 billion dollars, according to Mohamed Alaa, Secretary General of the Egyptian Businessmen Foundation. The Chinese to the East.
He added, “The first phase of the project will include cultivation of 1,000 acres; it will end in September 2025, and the remaining phases will be discussed soon with the Egyptian Prime Minister, as the implementation program has not yet been determined,” explaining that “the project is supported by the Chinese government, and financed by the private sector from the owners of Chinese companies.” To grow several strategic crops, most notably wheat, corn, soybeans, and sunflowers, in addition to some types of fruits for export to Europe.
Egypt is one of the largest importers of wheat in the world, and its purchases are closely followed as a global reference, and it usually purchases from abroad up to 12 million tons annually for the government and private sectors.
The Minister of Agriculture responded to Al-Sharq’s questions about the new complex, saying, “Representatives of the Chinese coalition and Egyptian government officials visited the New Valley Governorate last week, for the second time, and it was agreed to plant a number of strategic agricultural crops, most notably wheat, with the aim of reducing imports from abroad.” “Enhancing reliance on local production and providing hard currency.”
Farouk added, “The alliance will also grow corn, fruits, and aromatic and medicinal plants of high economic value, in addition to greenhouses, nurseries, palm trees, and crops characterized by higher productivity with limited use of water, with the products of these crops being exported abroad, especially to Europe.”
The New Valley Governorate is located in the southwest of Egypt in the Western Desert. It is bordered to the west by Egypt's borders with Libya and to the south by Sudan. Its area is 440 thousand square kilometers out of the total area of Egypt, which is about one million square kilometers.
Since 2015, the Egyptian government has aimed to reclaim and cultivate 1.5 million acres in many governorates of the Republic. Especially Upper Egypt, South Valley and Sinai.
The Minister of Agriculture stated, “The government will help a coalition of Chinese companies establish a complex for advanced agricultural research, and establish an integrated agricultural industrial complex to localize a number of agricultural industries in the New Valley Governorate. A number of projects will also be established to generate energy and electricity in the governorate, where stations will be established to generate clean and renewable energy.” from the wind and sun, and the establishment of a number of agricultural industrialization institutions, such as factories that convert palm leaves into wood.”
Related news
