French multinational giant retailer Carrefour SA will start carrying out the inception of three new supermarket chains in Egypt within days, said Egyptian government official said.
According to Yasser Abbas – Vice Chairamn of the Egyptian Internal Trade Development Authority (ITDA), the launch of the three new chains is part of the Carrefour’s scheme to have greater presence in Egypt.
Carrefour aims to launch ten new chains to locate in governorates of Dakahlia, Ismailia, Menya, Sharkia, Menoufia, Assiut, Port Said, Qaliubia, Kafr El-Sheikh, and El-Beheira, with investments worth 2 billion Egyptian pounds (US$279.4 million).
The ten chains are set to contribute to the creation of around 20.000 direct and indirect job opportunities.
For the first phase, the Egyptian official further told Amwal Al Ghad that Egyptian government has so far allocated around 10 feddans for Menya chain, 8 feddans for Dakahlia, and 10 feddans for Ismailia to launch Carrefour’s new chains. ITDA currently awaits the confirmation from the French engineering consulting office, he added.
Each chain will be built on a space ranging between 20.000-40.000 square metres.
Last November, a 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 aims to launch 10 new chains outside Cairo and Alexandria governorates.