Cairo – Mubasher: The Egyptian investment ministry on Wednesday said that two limited liability companies (LLC) were founded with a combined capital of EGP 228.5 million.
Investment and international cooperation minister Sahar Nasr has met with the founders of the new firms, according to a statement.
The first firm is CG Foods, established with a capital of EGP 178.5 million, by Emirati and Singaporean shareholders, the statement added.
Emirate CG Foods International Ltd holds a 55% stake in the company, while Singapore’s CG Foods Global B.T.A Ltd owns the remaining 45% stake.
CG Foods Egypt will work in building and operating factories for the production of food, flour, pastries, and pasta.
The second firm is El Sakhra company for educational and medical services with EGP 50 million in capital.
The company has only two shareholders and will build and manage technical skills school, as well as operate specliased and integrated hospitals.
Nasr called young investors to set up companies to support small- and medium-sized enterprises (SMEs).