Arab Finance: Sekem Holding has signed a contract with the Egyptian government to acquire approximately 23,500 feddans in the Toshka Basin, according to an emailed press release. The land’s condition is currently being assessed in preparation to begin cultivation soon, Helmy Abou El-Eish, Chairman of Sekem Holding, unveiled in statements made on the sidelines of the Carbon Certificates Forum. Abou El-Eish also revealed that Sekem is set to invest around EGP 4 billion over the next five years to develop and cultivate the newly acquired land in sequential phases. Agricultural operations are expected to commence in the near future, with the investment cost for reclaiming and cultivating one feddan estimated at EGP 200,000, he noted. Furthermore, Abou El-Eish mentioned that Sekem has recently finalized the establishment of new companies in Algeria and Saudi Arabia, in order to expand its regional footprint.