Cairo – Mubasher: The Egyptian United Oil Processing and Packaging has signed a memorandum of understanding (MoU) with Russian food industry giant EFKO Group to establish a joint venture with an investment of $300 million in Egypt.
The business volume of the new JV is expected to reach $1.5 billion over the coming five years, the Egyptian Ministry of Trade and Industry said in a statement on Thursday.
The deal includes enhancing mutual cooperation between the two sides to establish new factories for producing vegetable oils in the most populous Arab nation.
