Egyptian success leads to lucrative incentives package to establish manufacturing facility in Tunisia
DRiWATER, manufacturer of pioneering water-conservation technology, today announced the completed planting of 1 million DRiWATER irrigated trees in a single development outside Cairo, Egypt. The company, which ultimately will plant over 17 million trees in the development, also announced it has secured a lucrative package to establish a manufacturing facility in Tunisia. Both milestones reflect the growing interest of water-poor regions, both in the U.S. and abroad, in DRiWATER’s extremely efficient and environmentally safe form of plant irrigation.
“DRiWATER is bringing water-dependent vegetation to regions that formerly could only dream of such growth, and Egypt and Tunisia are leading the way by embracing our technology” said Joseph Paternoster, President and Chief Executive Officer. “There is no greater proof of DRiWATER’s capabilities than to see 1 million trees suddenly bloom in the middle of the Sahara Desert. Whether it is increased potential for economic development, reduced water and labor costs or improved living conditions, the benefits of DRiWATER are revolutionizing the way the world uses water.”
Egypt is using DRiWATER gel to grow eucalyptus, acacia, olive, mesquite, gazira, ficus and orange trees in and around its new Sixth of October city development. The millionth tree completes phase one of the three-phase project, which calls for DRiWATER to plant more than 17 million trees over 35,000 acres.
Tunisia, the world’s second-largest grower of olive trees, reacted to DRiWATER’s success in Egypt by offering the company a generous package to establish a Tunisian manufacturing facility. The incentives include a 25% grant to build the factory, another 35% of overall project costs, a 10-year income tax exemption and a permanent import tax exemption on all materials used in the production for export. Tunisia will continue to purchase DRiWATER from the company’s 30,000 square-foot Egyptian factory until the Tunisian facility is completed.