New Hope Group, the leading agribusiness operator in China, has set up its subsidiary in Egypt - New Hope Egypt Co., Ltd. on May 22.

New Hope Egypt Co., Ltd, a subsidiary fully owned by New Hope Liuhe Co.,Ltd., was set up at a cost of RMB100 million (US$16.30 million) and will  be mainly engaged in production and sales of animal feed. Located at 7th Industrial Zone of Sadat City, Monufia Governorate, it spans 2.3 hectares.