EBRD provides US$ 7 million loan to Obour Land’s new greenfield dairy farm in Egypt

EBRD provides US$ 7 million loan to Obour Land’s new greenfield dairy farm in Egypt

• EBRD US$ 7 million for Obour Land’s new greenfield dairy farm
• Investment to increase dairy production and exports
• Implementation of latest technology for dairy milking operations

LONDON, 20-Nov-2018 — /EuropaWire/ — Fostering the Egyptian dairy sector, the EBRD is providing a US$ 7 million loan to support the expansion plan of Obour Land, a leading Egyptian dairy producer.

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

The prospects for expansion are promising. Growth in the dairy products market – driven by high demand and by consumer preferences shifting towards packaged milk following increased health and safety awareness in Egypt – has encouraged dairy farms to expand rapidly.

The EBRD funds will support Obour Land to establish 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 by experts in the latest dairy-milking operational technologies and processes.

Developing the farm will achieve high-quality milk production and increase the potential for exporting to neighbouring countries.

Under the EBRD Programme for Improving Animal Welfare Standards in Agribusiness, technical cooperation activity associated with the investment will help identify suitable animal welfare practices.

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, UHT packaged milk and juice. The company is among the leading players in the local white cheese market. By the end of 2017, Obour Land’s sales had reached EGP 2.1 billion (US$ 114.8 million equivalent).

Egypt is a founding member of the EBRD. To date, the Bank has invested over €4.5 billion in 87 projects in the country since it began investing there in 2012. The Bank has also provided technical assistance to more than 750 small and medium-sized local enterprises.

For all media enquiries, email press@ebrd.com

SOURCE: EBRD