Cairo – Mubasher: China-based Angel Yeast Co. Ltd has revealed plans to establish a plant in the Upper Egypt governorate of Beni Suef for adding artificial and fragrances at $55 million in investments.
The Chinese firm's investments in the North African nation amount to about $100 million, with 521 employees, in addition to dispatching 50 workers for training in China, while its exports stand at $40 million per annum.
Angel Yeast is aiming at ramping up dry yeast production in the Arab world's most populous country to 35,000 tonnes, up from 23,000, the company’s officials stated.
The statement came on the sidelines of a meeting between the General Authority for Investment and Free Zones’ chief executive Mona Zuba, Governor of Yichang County and Angel Yeast's delegation.
