Juhayna May Extend Time Frame for its Projects in Upper Egypt

Safwan Sabet, Chairman of Juhayna Group (JUFU.CA), stated that his company is planning to extend the time frame for the implementation of a number of logistic centers in Upper Egypt at a cost of EGP 500 million within the current year as a result of the unstable economic and security situation in Egypt.

He added that it was scheduled to complete the timeframe of the projects during the next couple of weeks in order to achieve the final of the implementation period, confirming that the company is targeting 40% of its current investment size to be oriented to Upper Egypt, especially in Qena, Aswan, Luxor and Menia governorates.

In a related context, he explained that it was scheduled to begin establishing the logistic center and refrigerators in Qena at a total cost of EGP25 million to be completed within the current year, after the government’s determination of the land area.

Furthermore, Mr. Sabet requested from the Minister of Industry to accelerate in completing the project of Food Safety Law that contributes in improving the quality of Egyptian food industries especially that it suffers from the multiplicity of supervisory authorities, noting that the food industry sector provided around 50% from Egypt’s needs from Food products.