Egyptian foodmaker Edita heralds setting up its $20.4mn factory

Egyptian foodmaker, Edita has commenced the establishment and for its latest factory, with an investment cost worth 160 million Egyptian pounds ($20.4 million), it said in a statement Tuesday.

The factory is located in the 6th of October City, 17 km (10.56 miles) from the great pyramids of Giza and 32 km (19.8 miles) from downtown Cairo, the statement added.

Edita further said it had purchased the land to build the factory earlier in late May 2015 for 54 million pounds, on a space of 55,500 metres square and located in the Polaris Al Zamil Industrial Park.

Moreover, Edita said it had signed an agreement worth 116 million pounds with Gama for Trading & Contracting to start the drilling and building works on the new factory.