Angel Yeast Egypt, a subsidiary of a leading Chinese company in the yeast industry, started on Wednesday to build a new production line in a factory located in the industrial zone in Beni Suef city in Middle Egypt.
Upon completion of the new line which can produce 20,000 tons of yeast products per year, the annual production capacity in the Egyptian factory will hit 60,000 tons.
"For more than ten years of operation in Egypt, the company has achieved good benefits with annual foreign exchange revenue hitting 80 million U.S. dollars for Egypt," Sun Yuxiang, general manager of Angel Yeast Egypt said.
The Chinese company is strongly supported and welcomed by the Egyptian government, not only because they have created nearly 900 jobs for local residents, but also developed an eco-friendly cycle by processing sewage into fertilizers, Sun told Xinhua.
Meanwhile, Khaled Rageb, chairman of the New Beni Suef City Development Authority in Beni Suef Province, hailed Angel Yeast Egypt "as one of the most important companies in Beni Suef."
"It is an accelerating leap at all levels in terms of promoting environmental protection and producing high-quality products and providing more jobs opportunities for local people," Rageb said.
Opening the factory's new production line marks the success of achieving the company's objectives and will attract more investors to the industrial zone in Middle Egypt, he added.
The expansion line is expected to be completed and put into operation in May 2024.
Produced by Xinhua Global Service
