Egypt-based Al Ahram Consumer Complexes to pump $7mn-investments in FY2016/17

Egypt-based Al Ahram for Consumer Complexes company targets injecting investments estimated at 65 million Egyptian pounds (US$7.3 million) during fiscal year 2016-17.

Speaking to Amwal Al Ghad Sunday, Chairman Adel El Khatib stated that those investments would be dedicated for upgrading and opening new branches within the coming period.

The new investments are also set to be injected in the mechanise project that aims at linking firm’s branches with warehouses of the Egyptian Food Industries Holding Company (FIHC), the chairman clarified.

Al Ahram for Consumer Complexes is an Egyptian joint stock company affiliate of FIHC.

Moreover, chairman El Khatib noted that Al Ahram plans boosting its sales volume by 40 percent by the end of 2016.