CAIRO: Egypt’s dairy producer Obour Land intends to inject more than 100 million EGP ($13.4 million) in fresh investments in the local market during 2015 and 2016, Chairman Mohamed Hamed announced at a Tuesday press conference.
Obour Land has an expansion plan which includes establishing a new cheese factory with an estimated investment worth 50 million EGP, Youm7 quoted Hamed as saying.
The new expansions are expected to create 500 direct job opportunities and hundreds of indirect jobs, according to Hamed.
Hamed added that the new plant will include three production lines and it is scheduled to be operative during the first quarter of 2015.
Also, the company plans to establish a juice and dairy plant with more than 50 million EGP investments, which will run in the second half of 2016, said the company chairman.
Obour Land has invested around 300 million EGP in the local market since its 1996 establishment.