By Ramy Sameeh:

Cairo-Mubasher: Egypt-based dairy producer Obour Land is intending to inject fresh investments worth EGP 100 million ($13.4 million) in the local market during 2015 and 2016, said Chairman Mohamed Hamed.

“We have an ambitious expansion plan that includes the establishment of a new cheese plant with investments estimated at around EGP 50 million,” the top official added in a press conference held Tuesday.

He added that the new plant, which will comprise three production lines, will be operative by the first quarter of this year.

The chairman also revealed that his company will establish a juice and dairy plant worth more than EGP 50 million, which will come on stream in the second half of 2016.

The value of Obour’s total investments since inception in 1996 amounted to EGP 300 million.

According to Hamed, the company plans to expand in dairy and juice segments, in addition to boosting growth and market share.

Translated by Sayed Abdel Rahman

Photo Credit: Arabianeye-Reuters