The purpose of this agreement is to develop the production of breeding chickens, the production and processing of broilers, the manufacturing of processed food, and the sale of these products
Japanese Mitsui Company, a global trading and investment company, has recently finalized an agreement to invest in Wadi Poultry and its subsidiaries. The size of the investment hasn’t been disclosed yet.
The purpose of this agreement is to develop the production of breeding chickens, the production and processing of broilers, the manufacturing of processed food, and the sale of these products.
Additionally, the investment also targets the expansion of Wadi's agribusiness both within Egypt and internationally.
Through this investment, Mitsui aims to boost its food and nutrition business cluster, enhance health and well-being through food.
Earlier in November, Minister of Finance, Mohamed Maait, announced that Egypt successfully sold ¥75 million (Japanese Yen) - close to $500 million, worth of 5 year, Samurai bonds with an average yield of 1.5% into the Japanese market.
This is not the first time Egypt has launched bonds into the Japanese market. Egypt issued its inaugural Samurai bonds last year in March 2022, also offering bonds worth $500 million which was, at the time, approximately ¥60 million.
Recently in October, Chairman of the General Authority for the Suez Canal Economic Zone (SCZone), Walid Gamal el-Din, received a business delegation from 24 Japanese companies to explore ways of cooperation in the fields of renewable energy, green fuel, and various industries.
Oka Hiroshi, the Japanese Ambassador to Egypt, said in June that Japan will provide a grant worth $110,000 to Egypt to support small enterprises as part of a Japanese aid program.
