April 20, 2016
Zhengbang breaks ground in Egypt
China's ZhengbangGroup has been actively venturing overseas in recent years, settling up modern agricultural plants in Myanmar, Russia and now, Egypt.
It is reported that Zhengbang Group plans to invest an estimated sum of EGP650 million (US$ 73.2 million) to establish a total of four industrial projects in Egypt. A ground-breaking ceremony was held end of last month in the 6th of October City in Giza, to signify the construction of its first project, a modernised, fully automated poultry feed miller in Egypt.
According to the chairman of the Egyptian Industrial Development Authority (IDA), Ismail Gaber, Zhengbang's poultry feed miller is set to be completed by October next year. Once the plant is in full operation, it is capable of an annual feed capacity of 180,000 tonnes, dedicated fully for the Egyptian market.