Pioneers Holding to invest 1.7 bln pounds by end-2016
Pioneers has invested more than 3.6 billion pounds over the past three years in Egypt's food and industry and real estate sectors and is looking to expand further in those sectors.
Egypt's pound notes are pictured in stacks of 100 as employees count money at an exchange office in downtown Cairo in a file photo. REUTERS/Amr Abdallah Dalsh
It plans acquisitions and capital increases in its subsidiaries, Zaki was quoted as saying in the statement.
The company is not looking to expand out of Egypt for the time being, he said.
The firm also plans to complete a 2 billion pound initial public offering of property developer Rooya Group in the second half of this year.
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Zaki said the timing for the offering would be determined after completing legal procedures.
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