The International Food and Consumable Goods Company (IFCG) is planning to establish a new factory for the production of frozen vegetables, investments some EGP 350 million (€17.6 mln). Construction is likely to start next year.
Mohamed Habib, the company's export manager, said that the trend towards frozen vegetables production came after the demand for the company's products increased this year, in parallel with the rise in the global demand for processed potatoes in view of the decline in Europe's production of potatoes by 25%.
Habib explained that the company has successfully concluded contracts to supply its products to McCain in order to meet the needs of the company's clients in Latin America, in addition to contracting with Eipico on the production of processed potatoes.
According to menafn.com, Habib also pointed out that the company aims to increase its production volume of potatoes and sweet potatoes this year to 55,000 tons, compared to 32,000 tons last year, in addition expanding its presence in its share in the local market, in conjunction with the pressure for more demand on the European market products.
