(Alliance News) - BF Spa announced Thursday BF International's multi-year strategic development and investment program in Egypt.

The project is characterized by full supply chain integration, application of low environmental impact agronomic techniques, technology transfer and training activities to partners and the Egyptian farmers involved. The project will be implemented through a joint venture between BF International and local company Future of Egypt, and will cover a 15,000-hectare site in the Dabaa region.

"BF international sees the Egyptian reality as an opportunity to implement a virtuous, sustainable and high-tech agricultural model capable of general value for all those involved," said Federico Vecchioni, director of BF International.

"This project represents an ideal model in which the entire Italian leading global supply chain ditechnology and sustainability is organized thanks to a lead company such as BF to offer African countries a tool with which to increase their food security while pursuing those shared goals of combating climate change also requested by Africa at Cop 28. With an Italian public-private system finally moving in unison," said Luigi Scordamaglia, CEO of Filiera Italia.

"Today's agreement represents an important culmination of the work done by the Italian government together with the Egyptian authorities following the agrifood sector supply chain mission last March led by Council Vice President and Minister of Foreign Affairs Antonio Tajani for a true strategic partnership in the food security sector," said Ambassador Michele Quaroni.

BF trades in the green by 0.5 percent at EUR3.97 per share.

By Chiara Bruschi, Alliance News reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.