Egyptian-British JV to set up animal feed factories worth USD 30 mn

A quartet of animal feed factories is in the works: Supreme Holding has formed a joint venture with an undisclosed British company — dubbed Continental Investments — that will invest the equivalent of a combined USD 30 mn into setting up four animal feed factories in Sharqia governorate’s 10th Ramadan City, Supreme Holding Chairman Moharam Helal told Al Arabiya. The project aims to localize the production of concentrated feed for poultry, livestock, dogs, and cats and will see the JV set up a number of subsidiaries to manage the factories.

The first launch is imminent: The first factory, which comes with a USD 15 mn price tag, is set to come online by March. Once the factory is up and running, the company will start building another two during the year, with the last factory set to become operational by 2025 at the latest.

The project could be a significant FX generator: The British firm holds a majority 90% stake in the JV and is set to finance its share in the project from resources outside the country. Supreme Holding owns the remaining 10% stake.

And could help lower our import bill: The project could help trim the USD 350 mn that the state spends each year to import dog and cat food, Helal told the outlet.