Edita Food Industries S.A.E- Edita Food Industries Morocco- Moroccan Government grant with a Value of MAD15 million
Cairo, October 20, 2019
Edita Food Industries S.A.E ("Edita") announces that its subsidiary Edita Food Industries Morocco (the "Company") has signed a grant agreement with the Kingdom of Morocco, by virtue of which the Company will receive a grant of the amount of 15 million Moroccan Dirhams from the Moroccan government, as part of the Moroccan Government's initiative and effort to encourage foreign direct investment into the nation, committing to the long-term growth of Morocco.
The Company is a joint-venture with Dislog Food SA, which has been incorporated in 2018 as part of Edita's strategy in expanding to nearby markets. The Company has signed a long-term lease agreement for a 13,000 sqm plot where its manufacturing facility will be constructed ("the Plant"). The Plant is expected to ground on Moroccan soil in the next months and begin operations in 2020
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Ms. Menna Shams El Din
Investor Relations and Business Development Senior Director
T: +202 3851 6464 | M: +20 100 1542428 | menna.shamseldin@edita.com.eg