Arab Finance: In its meeting, chaired by Dr. Mostafa Madbouly, the Council of Ministers approved a draft decision regarding grants “Balkan Food Industries” CompanyThe golden license for a project to establish and operate a factory to produce tomato concentrates, sauce, and all kinds of vegetables and fruits.
This is on an area of 76,517.30 square meters, located in Plot No. 507 in the First Industrial Zone in New October City, Giza Governorate, provided that the company is committed to starting operating the project on March 1, 2026.
The project, with an investment cost of more than 850 million pounds, aims to localize the industry and deepen the local component in its products by 100% of raw materials and local production requirements, in addition to transferring and localizing advanced technology to Egypt, as the company imported the project’s machines and equipment from the most important international companies working in the field. The field of production of food industry machines, in addition to its reliance on Egyptian cadres in managing and operating these equipment and machines, which contributes to the Egyptian workforce gaining experience and absorbing the advanced technology and techniques used in manufacturing these machines.
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