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ESC looking to invest EGP 3 bn in Egypt by 2022

Maker of Flo bottled water looks to invest EGP 3 bn in Egypt by the end of 2022: The Egyptian-Saudi Company for Natural Water and Food Industries (ESC), the distributors of Flo-branded water, is planning to invest EGP 3 bn in Egypt by the end of 2022, Chairman Mahmoud Daoud told the local press. 

The company is planning to expand its food manufacturing infrastructure, having earmarked c. EGP 500 mn to set up a port storage facility to support exports, another EGP 500 mn for an agriculture facility, and an undisclosed amount for a logistics center in Helwan, Daoud said, adding that construction is expected to begin in 2022. ESC is also in the process establishing a holding company under which to group its local subsidiaries.