{"id":560389,"date":"2021-02-25T04:25:44","date_gmt":"2021-02-25T04:25:44","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/25\/unilever-invested-egp-1-bn-in-egypt-operations-in-2020-eyes-new-facilities\/"},"modified":"2021-02-25T04:25:44","modified_gmt":"2021-02-25T04:25:44","slug":"unilever-invested-egp-1-bn-in-egypt-operations-in-2020-eyes-new-facilities","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/25\/unilever-invested-egp-1-bn-in-egypt-operations-in-2020-eyes-new-facilities\/","title":{"rendered":"Unilever invested EGP 1 bn in Egypt operations in 2020, eyes new facilities"},"content":{"rendered":"

<\/a> Unilever spent EGP 1 bn on its Egypt operations last year <\/strong>as part of plans to ramp up its exports over the coming years, Unilever Egypt Chairman Ashraf Bakry told Al Mal<\/a>. It\u2019s unclear how much of this figure is capital expenditure, but at least EGP 200 mn went towards the annual operating expense of maintaining its production lines. The British consumer goods company hopes to double its exports over the next three years from a current USD 200 mn.<\/p>\n

It sounds like the company has chosen Egypt to be its regional export hub:<\/strong> The company is focusing its efforts on Egypt, citing its strategic location and plethora of trade agreements, which make it easier for it to export into Europe and Africa. And lower labor costs mean that Unilever is also considering establishing a regional service center, Bakry said. Enterprise approached the company for comment for the story but a representative couldn\u2019t be reached.<\/p>\n

And offshoring could be in the works:<\/strong> The company is in talks to relocate some of its manufacturing facilities and service centers in Europe and Africa to Egypt, he added. This would come in addition to the company\u2019s four facilities located in Alexandria and Sixth of October that produce food and personal hygiene products.<\/p>\n

IN OTHER INVESTMENT NEWS-<\/strong><\/p>\n

Plastic waste recycling company <\/strong>Green Minds<\/a><\/strong> plans to invest EGP 100 mn in <\/strong>expanding its recycling capacities<\/strong>, Chairman Muhammad Dief told the local press<\/a>. The expansion should up the company\u2019s monthly recycling capacity to 1.3k tonnes, and Deif says they are eyeing further expansion in waste collection and recycling under the recent Waste Management Act<\/a>.<\/p>\n

The Canal Company for Ropes Natural and Synthetic Fibre Products and <\/strong>Norwegian water treatment company <\/strong>Sterner<\/a><\/strong> are setting up an aquaculture complex<\/strong> after signing a shareholder\u2019s agreement<\/a> yesterday. The fish farm is expected to produce 25k tonnes of fish annually, and will include a water treatment plant, hatcheries, marine laboratories and a factory for fish processing and packaging, as well as a training academy. The complex\u2019s waste will be recycled at an on-site factory to produce organic fuel and fertilizers. The Canal Company for Ropes Natural and Synthetic Fibre Products is a Suez Canal Authority company.<\/p>\n","protected":false},"excerpt":{"rendered":"

Unilever spent EGP 1 bn on its Egypt operations last year as part of plans to ramp up its exports over the coming years, Unilever Egypt Chairman Ashraf Bakry told Al Mal. It\u2019s unclear how much of this figure is capital expenditure, but at least EGP 200 mn went towards the annual operating expense of […]<\/p>\n","protected":false},"author":1,"featured_media":560390,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[72,125,133,1736],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam","tag-investment-watch","tag-suez-canal-authority","tag-unilever","wpautop","entry"],"acf":{"mongo_id":"4c585fe3-1683-48d9-aec5-4fbbffa32380","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/364.jpg","photo_position":"above","related_issue":[560384],"teaser":"","voice_url":""},"yoast_head":"\nUnilever invested EGP 1 bn in Egypt operations in 2020, eyes new facilities - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/25\/unilever-invested-egp-1-bn-in-egypt-operations-in-2020-eyes-new-facilities\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Unilever invested EGP 1 bn in Egypt operations in 2020, eyes new facilities\" \/>\n<meta property=\"og:description\" content=\"Unilever spent EGP 1 bn on its Egypt operations last year as part of plans to ramp up its exports over the coming years, Unilever Egypt Chairman Ashraf Bakry told Al Mal. 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The company invested EGP 500 mn in a new detergent plant that opened last year and plans to expand its investments in Egypt, exporting at least half of its output\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":651744,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/20\/kraft-heinz-withdraws-usd-143-bn-offer-for-unilever\/","url_meta":{"origin":560389,"position":2},"title":"Kraft Heinz withdraws USD 143 bn offer for Unilever","author":"enterpriseam admin","date":"20 February 2017","format":false,"excerpt":"Kraft Heinz has withdrawn its USD 143 bn offer for Unilever just two days after it confirmed it was interested in the transaction. Kraft Heinz\u2019s board \u2014 which includes Warren Buffett among its members \u2014 voted to walk away as the \u201calternative would have been to pursue a public and\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645286,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/17\/unilever-vies-with-hormel-to-buy-foods-division-of-reckitt-benckiser\/","url_meta":{"origin":560389,"position":3},"title":"Unilever vies with Hormel to buy foods division of Reckitt Benckiser","author":"enterpriseam admin","date":"17 July 2017","format":false,"excerpt":"Unilever and Hormel Foods Corp will be vying to acquire the foods division of Reckitt Benckiser, according to a Reuters brief. Whomever outbids on this one is probably going to shell out in excess of USD 2.9 bn for the acquisition.","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593628,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/uk-to-boost-investment-in-egypts-human-capital-healthcare-education-sectors\/","url_meta":{"origin":560389,"position":4},"title":"UK to boost investment in Egypt\u2019s human capital, healthcare, education sectors","author":"enterpriseam admin","date":"3 October 2019","format":false,"excerpt":"UK companies to boost investment in human capital, healthcare, education, other sectors: British companies are planning to increase their investments to develop human capital in Egypt, company reps told Investment Minister Sahar Nasr at an investment forum in Cairo yesterday, according to a ministry statement. The companies, including GlaxoSmithKline, HSBC,\u2026","rel":"","context":"In "Diplomacy + Foreign Trade"","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548104,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/26\/cartona-raises-usd-12-mn-series-a-funding\/","url_meta":{"origin":560389,"position":5},"title":"Cartona raises USD 12 mn series A funding","author":"enterpriseam admin","date":"26 July 2022","format":false,"excerpt":"Egyptian B2B e-commerce platform Cartona has raised USD 12 mn in a series A round led by VC firm Silicon Badia, the company said in a statement(pdf). KfW\u2019s Sanad Fund, Arab Bank Accelerator and Sunny Side Ventures also participated in the round together with existing investors Global Ventures and Kepple\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=560389"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560389\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560384"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/560390"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560389"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560389"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}