Minister of Supply and Internal Trade Khaled Hanafy announced Monday that a committee will be formed to conduct an integrated financial, economic and technical study for revitalising Egypt Dairy.
“The idea of re-operating the Egypt Dairy company is possible however investments and modern equipment are needed to do that,” said Hassan Kamel, the company’s former president.
Hanafy’s decision was taken during a meeting held with the board of directors and presidents of 43 subsidiaries owned by the food industries holding company. Egypt Dairy is one of those subsidiaries.
He also added that a plan for developing and modernizing the company’s factory will be implemented. This will be accomplished either through pumping investments or forming partnerships with investors, Hanafy said.
According to ministry spokesman Mahmoud Diab, the committee will consist of about six to seven members, who will all be experts from the food industries holding company. He added that the committee is expected to finish its studies in two weeks.
Kamel mentioned that the factory cannot operate in 2015 with old technologies, noting that using modern technologies is crucial for gaining the ability to compete and trade in the dairy market.
Kamel also highlighted that the company was looking for partners before and failed to attract anyone.
In 2008, the Egypt Dairy company got closed completely after being gradually liquidated starting from the year 1998. The company used to have nine factories and only one remained until now, which is the one that the Ministry of Supply is aiming to renovate in the coming period.
In 2014, Prime Minister Ibrahim Mehleb announced that the state will reintroduce the company. Mehleb stressed the urgent need for developing national industries, especially the food industries that meet the basic needs of the Egyptian citizens.
He also said that it is important to produce goods of the highest quality that match national and international standards, to be able to compete in this market.