Reuters was first to report that Emirati agribusiness Al Dahra is in talks to acquire more agricultural land in Egypt, a deal that could reduce Cairo’s dependence on imports of staple crops but also reignite water use concerns.
Deals
UAE agribusiness in talks to acquire land in Egypt
17 October 2023, 5:49 pm 1 minute
Market Impact
In 2014, as President Abdel Fattah Al Sisi vowed to revive the Toshka project, Al Dahra said it was changing its strategy to focus more on wheat cultivation and would prioritise selling it to the local market instead of exporting it. The government withdrew some of Al Dahra’s land in 2019 due to its failure to stick to the timetable for cultivation in Toshka, according to Egyptian newspaper Al Mal.
Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Business & FinanceCommodities & EnergyMergers & Acquisition
Regions: Middle East
Countries: UAE
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
