Tiba For Starch & Glucose decided to resume the construction of a new starch production line with investments valued at EGP 35m.
Company chairperson Hesham El Ghorory said that constructions were suspended for some time but will resume soon, since new equipment will be brought in within one month from the local market and from China.
He noted that the targeted starch-production volume amounts to 20,000 tonnes, adding that the plant will operate in the beginning on a capacity of 70% to reach its maximum production within three years.
The company’s exports in 2016 reached $1m and over 3,000 tonnes. It also achieved domestic sales of EGP 45m, with plans to boost them further, by 40%.
El Ghorory said that the export development plan will show tangible results in 2018, adding that the marketing strategy relies on taking part in several exhibitions in the coming period, including one in November in Germany.
He pointed out that, during the Dubai Gulfood Exhibition, the company is scheduled to meet with officials from Belgian company Remy, the largest manufacturer of starch in the world.
He noted that the competitive advantage of Egyptian rice is that its only rival is American rice, adding that the Egyptian types are not genetically modified. He said that starch producers sometimes are forced to import Thai rice if the Egyptian kind is not available, but that it is not of the same quality.
El Ghorory noted that the company has added a new glucose powder production line, where the unit was imported in August 2015 at a cost of EGP 15m to boost production to 6,000 tonnes per year.
He explained that the company has a liquid glucose production line next to the glucose powder used in biscuits and cream.
Tiba Starch and Glucose Manufacturing has been operating in Egypt for the past 16 years with investments totalling EGP 40m. The company realises annual sales of EGP 50m.