US’ Kraft Heinz aims to double production in Egypt

Reuters

The American company has already upgraded its factory in Egypt to double production capacity

Staff Writer, Arab Finance

August 26, 2024

PHOTO

Arab Finance: Minister of Investment and Foreign Trade Hassan El Khatib has met with a delegation from the US-based The Kraft Heinz Company to review the firm’s plans to double its production in Egypt and boost exports over the coming period, as per a statement.

The American company has already upgraded its factory in Egypt to double production capacity and achieve a 65% increase in exports via foreign direct investment (FDI) valued at $50 million, El Khatib highlighted.

He added that the current expansions at the factory are set to be inaugurated in September.

The meeting also tackled the group’s efforts to transform its factory in Egypt, the group’s only factory in the Middle East and Africa, into a regional hub for manufacturing and export.

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