German supermarket giant given to expand its operations in Egypt
Egypt-Germany, Business, 2/21/2001

German supermarket giant metro has been given a green light to expand its operations in Egypt. Visiting representatives of Metro's parent company in Germany met with General Authority for Free Zones and Investment (GAFI) officials yesterday to discuss the firm's expansion strategy in Egypt.

Metro plans to open new distribution outlets and established a food processing and packaging plant as well as three cold storage facilities for export product a GAFI official said.

The supermarket chain currently has about LE l10 million invested in Egypt and employs 2,500 workers here, a company source said.

During the meeting, GAFI chairman Mohammed El Ghamrawi stressed the importance of transferring German Technology in food processing and packaging.

He urged the company to utilize EgyptÕs skilled workers in its expansion plans.

Ghamrawi called for Egyptian investors to intensify their efforts in exporting their production and utilizing existing potentials to strengthen their position in foreign markets.

He pointed out that Egypt is strategically located at the doorstep of Arab, African and European markets.

Previous Stories:
  Egypt, Italy agree to build Desert Sat   (2/19/2001)
  Kuwaiti Company Signs Suez Canal Cleaning Contract   (2/5/2001)
  Proctor and Gamble offers to raise investments in Egypt   (1/23/2001)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search