U.S. Kemin plans to invest EGP1.5 billion in Egypt in next three years
Kemin Industries, U.S. ingredient manufacturer for human and animal health and nutrition, plans to invest 1.8 billion Egyptian pounds ($114.7 million) in Egypt over the next three years, a senior executive said on Wednesday.
The money will go for building three new factories to produce human and animal vaccines as well as a 100-feddan farm to produce fertile eggs which are being used for vaccine production, said Magdy El-Sayed – CEO at MEVAC – Cairo-based animal vaccine manufacturer and Kemin’s partner in Egypt.
El-Sayed made his remarks during a meeting with Mohamed Abdel Wahab, chairman of the Egyptian General Authority for Investment and Free Zones (GAFI); and Chris Nelson, president and CEO of Kemin.
Kemin Industries is a global ingredient manufacturer that supplies over 500 specialty ingredients for human and animal health and nutrition, pet food, aquaculture, nutraceutical, food technologies, crop technologies, and textile industries.
Established in 1961, Kemin is a privately held, family-owned-and-operated company with more than operations in 90 countries, including manufacturing facilities in Belgium, Brazil, China, India, Italy, Russia, San Marino, Singapore, South Africa, and the United States.
On March 29, Kemin Industries announced it had become a majority shareholder of MEVAC, an animal vaccine manufacturer based in Cairo, Egypt, and a shareholder in MEVAC’s sister company, UVAC, to further expand Kemin’s portfolio in the global animal vaccine market.