Juhayna Says to Complete its EGP800 mln New Plant by 2014-beginning

Juhayna Food Industries (JUFO.CA on the Egyptian Exchange) is planning to complete the establishment of the Group’s new plant in the Sixth of October City by the beginning of 2014, with investments of EGP 800 million.

Mr. Safwan Sabet – Chairman of Juhayna Group – asserted that the construction work on the Group’s new plant had been disrupted several times during the previous period due to the renewed violence and mounting state of lawlessness witnessed by the country.

The production capacity for the new plant has not been determined yet, he added.

Moreover, Mr. Safwan noted that Juhayna has pumped investments of around EGP 500 million during the first half of 2013, noting that the Group’s targeted totaled investments for this year are at value of EGP 1.2 billion.

Elsewhere, Juhayna’s Chairman further revealed to Amwal Al Ghad the ongoing contacts with the Egyptian Government led by Dr. Hazem el-Beblawi over receiving contracted lands in New Valley governorate. The land is at a distance of 10.000 feddans of which Juhayna had received only 2500 feddans without citing any reasons.