Daltex, an Egyptian agricultural development and land reclamation company plans to invest around USD $8,178,883 this year in order to take its sales back to the same rates of 2015.
Hisham El Naggar, the company’s managing director, said that the company hopes with the investment they can increase their sales to USD $44,275,022 USD compared to the figure from 2016 of $35,441,828 which was a drop in revenue by 20%.
He pointed out that Daltex plans to expand in exporting in 2017, whether in traditional markets or through opening new markets, in order to increase revenues.
He explained that the company plans to inject new investments into the reclamation of 5,000 new acres to grow production of its already estimated 100,000 acres.
The company also seeks to create a refrigerator to store agricultural products, with a production capacity of 10,000 tonnes in East of Ouyenat, in 2017.
Hisham El Naggar stated that Russian markets alone acquire about 45% of the company’s exports, compared to 35% for all European countries and 13% for Asian countries with Arab countries taking 7%. As for new markets, the company looks at India and China for future growth.
source: dailynewsegypt.com
