A United Arab Emirates firm has agreed to invest up to $3bn in Egyptian land reclamation “mega-projects” that would turn 100,000 acres into agricultural fields, according to the website of Egypt’s General Authority for Investment.
Egyptian minister of agriculture Mohammad Reda Ismail announced earlier this week the UAE’s Al Thaherah firm would turn 20,000 acres a year over the next five years into chicken farms as part of a massive agricultural project called Toshka, near Lake Nasser in the upper Nile River region of southern Egypt.
According to Ismail, the project aims to create the country’s second largest poultry farm as well as an industrial plant for the processing of meats.
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