U.S. Cargill says keen to increase Egypt investments to $350 million: minister

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U.S. food producer Cargill Inc says it is keen to increase investments in Egypt to $350 million, a statement by the Egyptian Ministry of Investment said Thursday.

“Cargill’s regional director in Egypt, Melvin Minke, said that his company’s investments in Egypt have reached $200 million, with the company planning to add an extra $150 million in investments in the future,” the statement added.

According to the ministry statement, Nasr met several representatives from U.S. companies, including conglomerate General Electric, Johnson, food provider Cargill, pharmaceutical company Merck & Co, oil and gas giant ExxonMobil, and food manufacturing company Kellogg’s.

Nasr also met with representatives from JPMorgan Chase and MasterCard.

According to the statement, the representatives “showed a wish to increase investments to Egypt in the coming period.”