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Indian corporate Embee International is in the process of acquiring 33, acres of land for the purpose of farming in Egypt where it will be investing over Rs 5,000 crore to grow pulses and vegetables.
The company said that the Egyptian government gave the land to it on a lease for 50 years that can be renewed thereafter.
Sanjay E Khushalani, Director of Embee International said, Egypt’s agriculture sector has huge potential and the company expects to get all the required permission for the “mega project” by next month.
“We are participating in the One Million Feddan land reclamation project of President Abdel-Fattah El-Sisi. We have booked around 33,000 acres. The land is being given on lease for 50 years,” he said further.
