Obour Land in­vests EGP 115m to meet its dairy needs

The com­pany aims to pro­duce 50 tonnes of milk daily and is work­ing to achieve in­te­gra­tion in pro­duc­tion

The Daily News Egypt - - Business -

Obour Land for food in­dus­tries plans to in­vest an amount rang­ing from EGP 105m to EGP 115m to im­ple­ment a new project for ranch­ing in or­der to meet its dairy needs.

Ac­cord­ing to a re­port is­sued by the com­pany on Mon­day, the project will be es­tab­lished on an area of 35 acres, where the in­vest­ment cost of the project will be fi­nanced over the pe­riod of three years, how­ever, the com­pany has not ex­plained whether the fi­nanc­ing will be self-fi­nanc­ing from in­side the com­pany or through loan­ing from banks.

Ac­cord­ing to the data by the com­pany, it aims to pro­duce 50 tonnes of milk daily.

The com­pany said that the project aims to achieve in­te­gra­tion of the com­pany’s ac­tiv­i­ties in terms of pro­vid­ing the nec­es­sary dairies which will even­tu­ally re­duce the costs of pro­duc­tion and pos­i­tively im­pact prof­its.

The com­pany added that the size of the project was es­ti­mated to in­clude 2,000 Hol­stein cows to pro­duce the milk im­ported from Ger­many on sev­eral phases.

The board of di­rec­tors of Obour Land has agreed amend­ing the com­pany’s ob­jec­tive to add to it the goal of ranch­ing to fat­ten the cat­tle and pro­duce milk.

The com­pany pro­duces all dairy pro­duces, in ad­di­tion to ice creams.

Sev­eral com­pa­nies work in the field of food in­dus­tries in Egypt, in­clud­ing Juhayna and Domty. The ma­jor­ity of the com­pa­nies re­lied on pur­chas­ing milk to pro­duce cheese and other prod­ucts. Over the past few years, th­ese com­pa­nies started ranch­ing cat­tle to pro­duce the nec­es­sary milk in or­der to pro­duce the other prod­ucts.

The project will be es­tab­lished on an area of 35 acres

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