Hisham Tawfiq, Minister of Public Business Sector, with a delegation from Japan Food Solutions Company (Photo: Egyptian Cabinet)
Egypt’s Ministry of Public Enterprise is looking into creating a partnership between Japan Food Solutions (JFS) company and the Holding Company for Construction and Development (HCCD).
The ministry also decided to increase the land rented out to the Japanese company in South Tahrir Farm, Beheira governorate, from 53 acres to 300 acres.
The new area given to JFS currently belongs to the ministry's HCCD.
The JFS will be responsible for agriculture, irrigation, harvesting and sales, and the revenues will be divided between the Japanese company and the HCCD.
JFS was established by Japanese-Egyptian investments. The Japanese side contributed 70 percent of the total investments in the project and the Egyptian side paid 30 percent.
Public enterprise minister Hesham Tawfik urged the HCCD to finalise the contract between the two sides.
Tawfik offered the Japanese company another partnership opportunity in 28,000 acres of paved and arable land in Toshka, belonging to the South Valley Company.
JFS officials expressed their willingness to train and qualify Egyptian manpower and to create a distinctive work environment that will be reflected on individuals’ performance, resulting in high quality products.
According to the JFS website, the company aims to adapt strict Japanese quality control systems on Egyptian vegetables and fruits to provide safe products to the Japanese market as a first step towards accessing the global market.
The HCCD started its activities in 1960 under a different name. It is viewed as one of the leading companies in construction and building in Egypt.