Cairo, February 23, 2025: Qalaa Holdings, a leader in energy and infrastructure (CCAP.CA on the Egyptian Exchange), has officially inaugurated its new state-of-the-art dried herb factory at Dina Farms, one of its subsidiaries specializing in the agricultural and food industries sector and one of the largest fully integrated farms in Egypt and Africa, with an initial investment of EGP 400 million. In addition, Qalaa Holdings has strengthened its position in the insulation industry with the launch of a new glasswool pipe insulation production line at GlassRock Insulation. Backed by an investment of EGP 27 million, this expansion reinforces GlassRock’s leadership in advanced insulation solutions as a subsidiary of ASEC Mining 'ASCOM.
• Dr. Ahmed Heikal: We commend the government’s efforts to support and empower the private sector and fully recognize its vital role in driving Egypt’s economic growth. Today’s visit by His Excellency to our factories is a testament to the strong collaboration between the public and private sectors and our shared vision to advance export-led industries, while leveraging Egypt’s competitive production advantages as key pillars of sustainable economic growth.
• Amir Naguib: Our investments are strategically focused on maximizing added value by manufacturing local raw materials and agricultural products. This approach supports the economy by boosting foreign currency inflows and replacing imports with high-quality Egyptian alternatives.
• Hatem Youssef: Dina Farms’ dried herb factory was established in just one year using cutting-edge technologies and has received international food industry and food safety certifications, to meet the requirements of European and American markets and export its products to major international companies.
• Ghada Hammouda: Responsible investment is at the core of our strategy for sustainable growth. We are committed to localizing and deepening industries, advancing environmental sustainability, achieving energy self-sufficiency, and delivering innovative solutions to enhance energy efficiency and resource optimization.
Cairo, February 23, 2025: Qalaa Holdings, a leader in energy and infrastructure (CCAP.CA on the Egyptian Exchange), has officially inaugurated its new state-of-the-art dried herb factory at Dina Farms, one of its subsidiaries specializing in the agricultural and food industries sector and one of the largest fully integrated farms in Egypt and Africa, with an initial investment of EGP 400 million. In addition, Qalaa Holdings has strengthened its position in the insulation industry with the launch of a new glasswool pipe insulation production line at GlassRock Insulation. Backed by an investment of EGP 27 million, this expansion reinforces GlassRock’s leadership in advanced insulation solutions as a subsidiary of ASEC Mining 'ASCOM.
The event was attended by H.E. Lieutenant General Eng. Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport. During his tour, Minister Al-Wazir was briefed on the advanced production technologies at GlassRock’s new insulation manufacturing line, which further expands the company’s portfolio of high-performance thermal insulation solutions.
He also inaugurated the new herb drying facility at Dina Farms, a strategic investment that underscores Qalaa Holdings’ commitment to strengthening agricultural manufacturing and achieving highest quality standards and competitiveness of locally produced food products.
The ceremony was attended by senior executives from Qalaa Holdings and its subsidiaries, including Dr. Ahmed Heikal, Chairman and Founder; Hisham El-Khazindar, Co-Founder and Managing Director; Amir Nagib, Co-Chief Operating Officer and Managing Director; Hatem Youssef, CEO of Dina Farms for Agricultural Investments; and Ghada Hammouda, Group Chief Sustainability Officer.
Commenting on the inauguration of the new dried herb factory at Dina Farms and the expansion of GlassRock for Insulation solution portfolio, Dr. Ahmed Heikal, Founder and Chairman of Qalaa Holdings, stated: “Our investments in these expansions align with Qalaa Holdings’ strategy to achieve energy and food security by capitalizing on emerging economic opportunities. We remain focused on developing local manufacturing capabilities and driving high-value, environmentally friendly, and export-oriented industries through our subsidiaries and in line with Egypt’s Vision 2030.”
Qalaa Holdings export proceeds reached c.USD 47.7 million on a nine-month basis in 2024, while local foreign currency revenue stood at c.USD 2.3 billion in 9M24. The group is targeting to increase the foreign currency inflows during the coming years.
Heikal added: “We expect exports from our insulation products and the new dried herb factory to reach approximately USD 40 million.”
With approximately EGP 1.95 billion in investments, Dina Farms has developed a fully vertically integrated agricultural and industrial livestock production model that not only meets local market needs, but also supports Egypt’s export expansion strategy. These investments align with Qalaa Holdings’ strategy to localize strategic industries and enhance food security.
Established by investments amounting to EGP 400 million, the new factory represents a significant leap in Egypt’s herb processing industry and its development as it relies on a unique fully integrated business model, directed entirely towards export. It is strategically positioned to meet rising global demand for premium dried herbs, with projected annual exports of USD 20 million, expected to double in the coming few years.
Dina Farms’ dried factory currently produces four main 100% natural herbs, including: curly parsley, flat-leaf parsley, cilantro, and dill. Future plans include expanding the product portfolio and entering new markets, including medicinal and aromatic herbs for culinary purposes, along with fruits and vegetables, with a strong focus on international markets.
Amir Naguib, Co-Chief Operating Officer of Qalaa Holdings, emphasized: “Our investments focus on maximizing added value by manufacturing local raw materials and agricultural products which support the economic growth by driving foreign currency inflows and reducing imported products with high-quality Egyptian alternatives.”
Naguib added: “Global climate changes and the energy crisis in Europe have created new opportunities for exporting local products, particularly to European markets which are in urgent need for larger quantities of insulation materials that support the insulation plan for facilities in the EU backed by funding programs aimed at rationalizing electricity consumption. Climate shifts and energy costs have disrupted herb cultivation in Europe and impacted energy availability for drying processes, driving increased demand for our high-quality products. We expect to see further opportunities in various fields as energy challenges and climate-related disruptions continue to reshape global markets.”
Hatem Youssef, CEO of Dina Farms, commented: “Dina Farms' new herbal factory was established in just one year using cutting-edge technology that meets the highest international food safety and quality standards. With it holding international certifications such as ISO, Halal, Kosher, and BRC Global Standards, the facility is strategically positioned to cater to the requirements of the European and American market.”
Commenting on the launch of GlassRock’s new glasswool pipe insulation production line, Amir Nagib stated: “Since establishing our facility 12 years ago with a USD 70 million investment, GlassRock Insulation has made significant strides in the industry. Our commitment to innovation and excellence has positioned us as a market leader in Egypt and the region, allowing us to meet growing local demand while expanding our export footprint.”
In the context of the opening of its new production line for pipe insulation, GlassRock is the only manufacturer in Egypt producing glasswool, exporting its products to more than 45 countries around the world. The company’s products contribute to reducing energy consumption by 40%. GlassRock has invested EGP 27 million in adding a new production line for glasswool pipe insulation, which will save the state USD 6 million annually by reducing imports of these products. This new line complements GlassRock’s insulation product portfolio, enabling the company to better meet the needs of the local market. In addition to saving another USD 12 million annually by producing high-quality glasswool products locally.
Nagib further highlighted GlassRock’s leadership in the industry, stating: “In the context of the opening of its new production line for pipe insulation, GlassRock is the only manufacturer in Egypt producing glasswool, exporting its products to more than 45 countries around the world. The company’s products contribute to reducing energy consumption by 40%. GlassRock has invested EGP 27 million in adding a new production line for glasswool pipe insulation, which will save the state USD 6 million annually by reducing imports of these products. This new line complements GlassRock’s insulation product portfolio, enabling the company to better meet the needs of the local market. In addition to saving another USD 12 million annually by producing high-quality glasswool products locally.”
Dr. Ahmed Heikal reaffirmed Qalaa Holdings’ support for Egypt’s public-private partnership (PPP) model, stating: “We command the government’s efforts to support and empower the private sector, believing in its vital role in driving Egypt’s economic growth. Today’s visit by His Excellency is a testament to the strong collaboration between the public and private sectors and our shared vision to advancing export-led industrialization while leveraging Egypt’s competitive production advantages as key pillars of sustainable economic growth.”
Ghada Hammouda, Chief Sustainability Officer at Qalaa Holdings, stated: “The expansion of GlassRock’s production capabilities and the inauguration of Dina Farms’ new dried herb facility underscore Qalaa Holdings’ commitment to responsible and sustainable investments through localizing and deepening industries, enhancing environmental sustainability, and resource efficiency, with a strong focus on advancing food security, achieving energy self-sufficiency, and green innovations across our operations.”
Hammouda further emphasized: “In line with Egypt’s Vision 2030 and capitalizing a climate change and energy crisis, Qalaa Holdings and its subsidiaries are committed to advancing the United Nations Sustainable Development Goals (SDGs) and integrating sustainability across its operations offering concrete business solutions.
• GlassRock plays a pivotal role in advancing Goal 8 (Decent Work and Economic Growth), Goal 9 (Industry, Innovation, and Infrastructure), Goal 11 (Sustainable Cities and Communities), Goal 12 (Responsible Consumption and Production), and Goal 13 (Climate Action). By improving energy efficiency by 40%, GlassRock’s insulation solutions drive carbon footprint reduction and environmental impact mitigation.
• Dina Farms adopts sustainable agricultural practices that enhance soil preservation, optimize resource efficiency, and promote the shift toward renewable energy and organic fertilizers. These initiatives directly support Goal 7 (Affordable and Clean Energy), Goal 8 (Decent Work and Economic Growth), Goal 9 (Industry, Innovation, and Infrastructure), and Goal 12 (Responsible Consumption and Production), reinforcing Qalaa Holdings’ commitment to sustainable development and long-term value creation.”