Carrefour to Open 10 New Branches in Egypt, with EGP2bn Investments

The French multinational retailer Carrefour signed Tuesday a protocol on cooperation with Egypt’s Supply Ministry.

The protocol was signed by Egyptian Supply Minister Khaled Hanafy, and Herve Majidier, Executive Regional Director of Carrefour in Egypt, Saudi Arabia, Yemen and Libya, alongside Abdel Aziz El Deeb – Head of Orouba Misr for Construction and Development.

As pursuant to the protocol, Carrefour will launch 10 new branches outside Cairo and Alexandria governorates.

According to Egyptian Supply Minister Khaled Hanafy, Carrefour’s new branches will be with investments estimated at 2 billion Egyptian pounds (US$ 279.7 million) approximately contributing to the creation of around 20.000 direct and indirect job opportunities.

The new branches will be in governorates of Dakahlia, Ismailia, Menya, Sharkia, Menoufia, Assiut, Port Said, Qaliubia, Kafr El-Sheikh, and El-Beheira. Each branch will be built on a space ranging between 20.000-40.000 square metres.