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The Nahr Al-Khair Company for Investment and Agricultural Development will start trading a 61.5% stake of its capital on the Egyptian Exchange (EGX) next Tuesday. According to Ahmed Sayed, Chairperson and Managing Director of the company, Nahr Al-Khair will be the first in the ‘1.5 Million Feddan Presidential Project’ that will be listed on the EGX as a financing tool that will facilitate entry and exit for foreign investors.
Sayed added in a press release that the company now has 466 shareholders. He pointed out that the company’s capital grew from EGP 2 mln in 2011 to EGP 200 mln in the past 10 years. Nahr Al-Khair, and its subsidiary Al-Ahly for Agricultural Investments, also aims to grow its sales volume to exceed EGP 130 mln in 2022.
The company aims to complete the reclamation of 5,138 feddans owned by the company in the 1.5 Million Feddan Project in west Minya by the end of 2,024. The company has currently reclaimed about 2,500 feddans through the cultivation of sugar beet, corn, lemon, olives and Spanish figs.
[ 1 feddan = 0.42 ha ]
[ EGP1 = €0,056 ]
Source: dailynewsegypt.com
