MAFI inks contracts for USD 300 mn agri-food industrial complex in Egypt’s Sadat City

The Middle East's largest agri-food industrial complex is coming to Sadat City: MAFI Agricultural Produce Industries (MAFI) founder Ahmed Abou Hashima signed contracts with several international companies to set up a USD 300 mn agri-food industrial complex run by MAFI in Sadat City, according to a cabinet statement last week.

The details: The complex in Elsewedy Industrial Development’s industrial park is slated to be the largest in the Middle East and could create as many as 7k direct and indirect jobs. The project will produce 100k tons of agri-food products annually in its first phase, with more than 80% of the production earmarked for export, the cabinet statement reads.

The complex will be home to five factories:

• The largest factory in Egypt for tomato concentrates;


• The largest plant in Egypt for citrus concentrates;


• The first individual quick-freezing facility in Egypt;


• The first factory for cloudy concentrates in the region;


• A freeze-drying products plant.

All eyes are on exports: Beltone Investment Banking — MAFI’s sole financial advisor — and established industrial investor Abou Hashima explored several export-oriented industries, before settling on the fully-integrated food processing complex, Betlone’s group deputy CEO and head of investment banking, Mohamed Aboulfadl told Enterprise. The new complex will also help Egypt climb the value chain by exporting value-added food products in larger volumes, instead of just exporting raw produce, Aboulfadl added.