Egyptian Nile Company for Consumer Complexes targets injecting investments of 70 million Egyptian pounds (US$7.8 million) during financial year 2016-17, firm’s Chairman told Amwal Al Ghad Monday .
The newly-appointed chairman Adel El Khatib stated that the firm has pumped investments worth 20 million pounds during fiscal year 2015-16 in upgrading around 60 percent of its branches totaling 168.
The investment plan of Nile Complexes for the new fiscal year includes developing the rest of its branches, i.e. the other 40 percent, the chairman added.
The investment plan also includes launching the mechanising project through which company’s all branches would be electronically linked with warehouses of Food Industries Holding Company (FIHC), El Khatib clarified.
The chairman pointed out that the company is working on injecting more commodities into its branches within the coming period to prepare for Eid al-Adha.
Nile Consumer Complexes is an Egyptian joint stock company affiliate of FIHC.