CANBERRA—As populations and food needs grow across the Middle East, one Egyptian businessman has spotted a niche export opportunity for Australia: camel meat.

Magdy el Ashram, who has spent the past two years in Australia, is reaching the final stages of a plan that he believes could both feed a hungry region and resolve one of Australia's biggest feral-animal problems. Mr. Ashram last week applied to the government of the South Australian town of Port Pirie for permission to build a plant to slaughter up to 100,000 camels...