news in brief

EBRD $7m loan for Egyptian dairy company

By Jim Cornall contact

- Last updated on GMT

Obour Land produces white cheese, spreadable cheese, UHT packaged milk and juice.
Obour Land produces white cheese, spreadable cheese, UHT packaged milk and juice.

Related tags: Egypt, Ebrd

The European Bank for Reconstruction and Development (EBRD) is providing a $7m loan to support the expansion plan of Egyptian dairy company Obour Land.

The company’s plan includes the establishment of a dairy farm with an estimated production of 60 tonnes of milk per day.

The EBRD funds will support Obour Land in establishing a greenfield dairy farm, with imported milking equipment and 2,500 dairy cows. The farm will supply raw milk to newly established ultra-heat treatment (UHT) packaged milk operations.

In addition, staff will be trained in the latest dairy-milking operational technologies and processes.

Developing the farm will also and increase the potential for exporting to neighbouring countries.

Established in 1997, Obour Land for Food Industries is a joint-stock company incorporated and operating in Egypt and involved in the production of different types of white cheese, spreadable cheese, UHT packaged milk and juice.  By the end of 2017, Obour Land’s sales were $114.8m.

To date, the EBRD has invested more than €4.5bn in 87 projects in Egypt since it began investing there in 2012. The bank has also provided technical assistance to more than 750 small and medium-sized local enterprises.

comments

Post your comment

We will not publish your email address on the website

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.