{"id":633149,"date":"2018-02-28T04:23:36","date_gmt":"2018-02-28T04:23:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/28\/mars-to-double-investments-in-egypt-to-egp-2-bn-ramp-up-exports-from-egypt-to-usd-100-man-by-years-end\/"},"modified":"2018-02-28T04:23:36","modified_gmt":"2018-02-28T04:23:36","slug":"mars-to-double-investments-in-egypt-to-egp-2-bn-ramp-up-exports-from-egypt-to-usd-100-man-by-years-end","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/28\/mars-to-double-investments-in-egypt-to-egp-2-bn-ramp-up-exports-from-egypt-to-usd-100-man-by-years-end\/","title":{"rendered":"Mars to double investments in Egypt to EGP 2 bn, ramp up exports from Egypt to USD 100 man by year\u2019s end"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>INVESTMENT WATCH- Mars to double investment in Egypt to EGP 2 bn this year: <\/strong>Mars Wrigley Confectionery plans on doubling its investments in Egypt to EGP 2 bn by year\u2019s end, which \u201creflect[s] Mars\u2019 confidence in the Egyptian economy,\u201d said Mars Wrigley Confectionery Global President Martin Radvan. <strong>The announcement came at the inauguration yesterday of the first phase of its EGP 750 mn expansion of its 6 October City factory<\/strong>, which will include the commissioning of two new production lines, the company <a href=\"https:\/\/ent.news\/2018\/2\/1304.pdf\">said in a statement (pdf)<\/a>. Mars expects these latest expansions will grow its exports out of Egypt to USD 100 mn by the end of 2018, Regional President for the Asia-Australia, Middle East & Africa Region Ehab Abou Oaf said. Around 80-90% of the factory\u2019s output is earmarked for export to 20 markets in the region. The new production lines will add 79 new products to its lineup once the second phase of the expansion is complete in six months\u2019 time, said the factory\u2019s director, Ahmed Al Hiraky. The expansion will see total capacity rise to 70k tons per year at the end of 2018, up from 50k tons now.<\/p>\n<p><strong>The move shows that \u201cAmerican companies want to be part of the growing momentum in the Egyptian economy,\u201d<\/strong> US Charg\u00e9 d\u2019Affaires Thomas Goldberger said <a href=\"https:\/\/ent.news\/2018\/2\/1647.pdf\">in a statement from the US embassy (pdf)<\/a>. Trade and Industry Minister Tarek Kabil lauded the expansions as a \u201cmessage\u201d to foreign investors that Egypt is an attractive market.<\/p>\n<p><strong>Domestic chocolate manufacturers are looking to follow in Mars\u2019 footsteps<\/strong>. Sima Food Industries plans to add two new production lines to its chocolate factory, while the Alexandria Confectionery & Chocolate Company \u2014 which produces Corona chocolate \u2014 will begin constructing a new 6 October City factory this year, <a href=\"https:\/\/alborsanews.com\/2018\/02\/27\/1088535\">Al Borsa reports<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>INVESTMENT WATCH- Mars to double investment in Egypt to EGP 2 bn this year: Mars Wrigley Confectionery plans on doubling its investments in Egypt to EGP 2 bn by year\u2019s end, which \u201creflect[s] Mars\u2019 confidence in the Egyptian economy,\u201d said Mars Wrigley Confectionery Global President Martin Radvan. The announcement came at the inauguration yesterday of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-633149","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"4b0a757f-60d7-40dc-8e33-5c7659837d39","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[633142],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Mars to double investments in Egypt to EGP 2 bn, ramp up exports from Egypt to USD 100 man by year\u2019s end - 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\/2018\/02\/28\/mars-to-double-investments-in-egypt-to-egp-2-bn-ramp-up-exports-from-egypt-to-usd-100-man-by-years-end\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mars to double investments in Egypt to EGP 2 bn, ramp up exports from Egypt to USD 100 man by year\u2019s end\" \/>\n<meta property=\"og:description\" content=\"INVESTMENT WATCH- Mars to double investment in Egypt to EGP 2 bn this year: Mars Wrigley Confectionery plans on doubling its investments in Egypt to EGP 2 bn by year\u2019s end, which \u201creflect[s] Mars\u2019 confidence in the Egyptian economy,\u201d said Mars Wrigley Confectionery Global President Martin Radvan. 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Salib did not specify how much the confectioner plans to invest during this time period, but noted that it has\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":634916,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/29\/mars-to-inaugurate-egp-750-mn-expansion-by-februarys-end-kabil\/","url_meta":{"origin":633149,"position":1},"title":"Mars to inaugurate EGP 750 mn expansion by February\u2019s end -Kabil","author":"enterpriseam admin","date":"29 January 2018","format":false,"excerpt":"INVESTMENT WATCH: International confectionery producer Mars will inaugurate two new production lines by the end of February, Trade and Industry Minister Tarek Kabil said, according to Al Mal. 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