As part of the initiative, Genet Agricultural Company acquired a 14,100-acre agricultural plot in the West Minya extension area from the Egyptian Countryside Development Company, also known as the "Al-Reef Al-Masry Al-Gadid Company.”
Hassan Allam Holding Group, founded in 1936, is a leading Egyptian engineering, construction, investment, and development company.
The group operates across diverse sectors, including infrastructure, energy, water, industry, logistics, petrochemicals, and large-scale complex projects in the Middle East and North African (MENA) region.
The land will be dedicated to cultivating various crops to meet local market demands and boost export opportunities.
This project aligns with global sustainable development goals by promoting agricultural production, creating job opportunities, and supporting the national economy through achieving self-sufficiency and increasing revenue from Egyptian agrarian products in international markets.
"The launch of Genet Agricultural Company represents a significant addition to our commitment to community development and investing in businesses that create sustainable value," said Hassan Allam, CEO of Hassan Allam Holding Group.
"This expansion into agriculture aligns with our broader vision of driving sustainable growth and making a tangible impact in the regions where we operate,” he clarified.
Amr Abdel Wahab, the chairman and managing director of the Egyptian Countryside Development Company, stated that Hassan Allam Holding Group is a cornerstone of national industrial and developmental progress.
He expressed strong confidence in its capacity to meet reclamation targets and drive transformative development on its acquired land.
Abdel Wahab also emphasized that this initiative would enhance the project’s success and uplift surrounding small-scale farmers by fostering knowledge-sharing and expertise.
As per the statement, Genet Agricultural Company's expansion aligns with Egypt’s Vision 2030 by reducing reliance on imports, increasing exports of high-value crops, and enhancing large-scale food processing to create a more robust agricultural ecosystem.
The company aims to transform raw agricultural production into globally competitive food products by leveraging modern farming technologies and investing in post-harvest processing infrastructure.
It continues to expand its presence in high-impact sectors that drive economic growth by strategically focusing on food security, agricultural exports, and value-added food industries.
In November 2024, Minister of Agriculture and Land Reclamation Alaa Farouk said the government plans to expand horizontally by cultivating four million acres in the desert areas.
He also noted that it expanded the agricultural area by reclaiming and cultivating more than two million acres of desert, where cultivation and production began.
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