Wadi Holdings (Wadi Group) – a family-owned Lebanese agribusiness company based in Egypt – is planning new four-year investments worth US$170 million in Egyptian market, said chairman Musa Freji.
Speaking to Amwal Al Ghad on Wednesday, Freji referred that Wadi’s anticipated investments will be until 2018. The new investments will go for fresh expansions in agricultural, Fisheries and poultry businesses, he added.
The total value of Wadi’s investments in Egyptian market is expected to reach US$283 million by the end of the current year, the official noted.
Furthermore, the official stated that the second phase to establish Egypt’s first river port will be finalised by end of 2015, at a cost of EGP 100 million, to become the total the cost of the project (two phases) worth EGP 400 million.
The second phase will increase storage capacity by 130.000 tonnes, through adding 17 silos to the port, he elaborated.
The privately-owned grains port project on the Nile River is operated by Nile Stevedoring and Storage Company (NSSC), is meant to encourage river transportation as an efficient means for commodity transportation.
Nile Stevedoring and Storage Company (NSSC) is a joint venture between Wadi Group and MedSofts and is considered the largest grain port facility in Egypt and the MENA region.