Egypt Establishes Suez Canal Healthy Food Industries Co.

Osama Rabie, Chairman of the Suez Canal Authority (SCA) witnessed the signing of a shareholders’ memorandum of understanding (MoU) between Timsah Shipbuilding Co. , Healthy Milk, and Healthy Family Companies to establish an Egyptian joint stock company “Suez Canal Healthy Food Industries”.

According to a statement issued on Sunday, the establishment of the new company, related to food industries, comes inline with the presidential directives to achieve food security and bridge the nutritional gap in animal protein by expanding the activity of livestock breeding, the establishment of meat factories, dairy and juice factories, as well as fruit sorting and drying stations.

Rabie affirmed his keenness to expand the scope of work in the companies affiliated with the authority within the framework of the current development and modernization plan.

He added that the agreement aims to establish new industrial entities in partnership with private and national companies to add more industries essential for the Egyptian market's various sectors.

The chairman pointed out that the joint venture will contribute to providing job opportunities for youth and help achieve self-sufficiency in products from essential products.

The MoU was signed by Chairman of the Board of Directors of Timsah, and SCA representative Mohamed Saeed, Mustafa Lotfy Abdullah, representative  for the Healthy Milk Company, and Mohamed Mostafa Lutfi, representative for the Healthy Family Company.