The International Food and Consumable Goods Company (IFCG) has plans to open a new factory for the production of frozen vegetables in Egypt, a new report from MenaFN has revealed.
The project will be fueled by an EGP350m (EUR17.6m) investment. The construction is due to start next year.
Mohamed Habib, IFCG’s export manager explained the company decided to boost its frozen vegetable production after seeing a rise in demand for its frozen products, in parallel with a growing interest in processed potatoes. According to Habib, the firm has recently secured a contract to supply its products to McCain for the latter’s clients in Latin America.
IFCG has further plans of strengthening its position in the market by increasing the production of potatoes and sweet potatoes this year by 55,000 tons, compared to the 32,000 tons of last year. Habib has also revealed that the company sources 70% of potatoes it uses from its own farms.
