Supply Ministry pumps $67mn to upgrade FIHC Affiliates

Ministry of Supply and Domestic Trade is to pump EGP525million (US$67 million) in fiscal year 2015-16 to upgrade all Food Industries Holding Company’s (FIHC) affiliates, Minister Khaled Hanafy said Thursday.

The set-to-be developed firms are Kaha Company for Preserved Foods, Edfina for Preserved Foods as well as sugar, oils and diary companies.

Hanafy made these remarks during the general assembly of FIHC to discuss planning budget for FY2015-16 in addition to the latest developments made in FY2014-15.

he stated that the plan aims at boosting companies’ production and upgrade products’ quality to compete with similar products of private sector in markets.

Minister Hanafy added that the plan includes rehabilitating the production lines of those firms and upgrade them in accordance to the latest international technology.