Russian sauce and oil maker in $300 mln JV deal with Egypt’s firm

SOCHI, Oct 24 (PRIME) -- Russia’s EFKO group, one of the country’s leading sauce and oil food industry companies, has signed an agreement with Egyptian fat and oil company United Oil to create a U.S. $300 million joint venture, according to the information obtained by PRIME on Thursday during the Russia–Africa forum.

The venture should become one of the largest producers of vegetable oils and fats in North Africa. The company will enter the markets of North Africa, Middle East, and Southern Europe, the agreement read.

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