The Egyptian British company General Development (Galina–Agrofreeze ) aims to achieve sales of EGP 175m by the end of this year, compared to EGP 71m last year.
The company’s sales volume during the first seven months of this year amounted to EGP 100m, it aim to achieve an additional EGP 75m by the end of this year, said Abd El-Wahd Suliman, Chairman of the Board.
Suliman explained that the company is studying the manufacture of all the products that are prepared for export of agricultural raw materials within its factories instead of relying on others.
In order to provide the amounts paid for manufacturing, as well as working to raise the level of quality and encourage farmers and purchase them directly without intermediaries to ensure the quality of crops Supplied.
Suliman pointed out that Galina seeks to increase its sales by 15% annually until 2021, bringing the total annual productivity to 15 thousand tons compared to only 7,000 tons currently.
The company intends to invest EGP 40m to set up a new plant for fruits and vegetables centres, on an area of 23,000 thousand square meters in the industrial renaissance area in Alexandria, and is due to be completed in mid-2018.
Suliman explained that 35% of the targeted investments are particularism, and the rest will be financed by the banking sector. The company is negotiating with three banks and two financing companies to provide the necessary loans under the Central Bank of Egypt’s (CBE) initiative to finance small and medium enterprises with 5% decreasing interest.
He pointed out that the total investments of the company this year did not exceed 15 million pounds, to provide the plant with new production lines, primarily the line of sorting and stripping okra, and the line of sorting and cutting fruit.
He pointed out that the new investments of the company increased productivity by about 40% to 7 thousand tons, all compared to 4.8 thousand last year.
The company exports its products to several countries including the United States, Canada, Japan, EU countries, some Gulf countries, countries in Africa and Asia. Europe alone accounts for 60% of exports.