Egyptian exporter Trade Waves has released more details on its new project to reclaim around 1,000 hectares of land in Menya, 250 kilometres south of Cairo.
The 25-year project got underway at the start of the year and is being undertaken through a joint venture called RABWA Agriculture, reports Fruitnet.com.
Trade Waves’s general manager Ahmed El-Hodaiby said the amount of capital authorised for the project stands at E£100 million (£10.1m), with E£10m (£1m) issued for the first phase. Grapes, citrus and pomegranates are the primary focus of the first phase, which is due to cover 2011 and 2012.
