Egyptian Emirates Company targets 15% growth in 2021

Company starts to export to Philippines for first time, plans to expand into West Africa, Latin America: Ezzat

The Egyptian Emirates for food industry (EGAEIF) aims to expand in West Africa and Latin America during 2021. It also plans to open a new pasta factory with investments of $20m.

AlaaEzzat, Chairperson of the company, said: "The construction of the new factory has been completed and the installation of production lines will be carried out soon.”

The new factory is located in the fourth industrial zone in Borg Al-Arab city. The factory is set to produce 7.5 tonnes of pasta per hour, and its production will be directed for exporting only.

With $10m worth production lines, the factory is scheduled to open by the end of 2021.

The company considers the new factory as an extension to its existing plant in As-Sinbillawain city, Daqahliyah governorate, whose production capacity is estimated at 8,000 tonnes per month.

Ezzat pointed out that the company relies currently on modern energy efficient equipment which can reduce energy consumption by 10%-15%

He continued: "The new production lines offer competitive advantages in terms of cost and energy, with higher production capacity and quality, thus we can expand into untapped markets."

Ezzat revealed that the company currently exports to some West African countries, like Ghana and Cameroon.

The EGAEIF plans to further expand in West Africa during the coming period, to take advantage of the high demand in this area, especially since the competing countries, such as Turkey, could not meet the needs of these markets.

West Africa markets were dominated by some countries, but the current situation has changed amid the Coronavirus pandemic. Exports from some countries, such as Spain, Italy, and other European countries, have stopped in West Africa, which made it easier for Egyptian products to have a larger market share.

Ezzat pointed out that the company achieved 18% growth during 2020, despite the outbreak of the virus. The company now seeks to achieve between 10%-15% growth in the current year.

The pasta is the main product in the company, which comes in several brands, most notably "Home Brand".

"We also aim to export to Latin American countries, as the company is currently targeting Venezuela and Cuba. I expect there will be a good opportunity for expansion in these markets, in light of the current political crises there," Ezzat said.

Philippines is the latest addition to the company’s importing countries. The EGAEIF seeks to expand into Southeast Asia, taking advantage of the strong demand in this area due to high population.