Indian investor pumps EGP 50m into Egypt to plant seeds

Director of an Indian company producing seeds in Egypt Raman Siegel said the firm will pump new investments into the country at a total cost of 50 million pounds next year.

The move is meant to uplift the company's potential and purchase new lands which will be used in research along with establishing a plant to prepare produced seeds, according to the Indian investor.

The company's export capacity is expected to hit 25 percent in four years, said a statement by the Indian Embassy in Cairo on Sunday.

The company is now exporting its products to Sudan, Saudi Arabia, Jordan, Pakistan, Algeria and Ethiopia, it added.

The atmosphere is very suitable in Egypt, Siegel said, adding his company faces no obstacles here. 

The company has cultivated 8,000 feddans of seeds following hammering out contracts with farmers, he noted.

The business doer said Indian investments in Egypt devote particular attention to state-of-the-art technology and scientific researches in seed production.