Cairo – Mubasher: Qalaa Holdings has invested EGP 500 million in Dina Farms to date, according to a statement to the Egyptian Exchange (EGX) on Wednesday

Over the next three years, the investment firm aims to invest an additional amount of EGP 400 million in Egypt’s leading dairy producer.

Moreover, Dina Farms plans to continue growing the number of livestock to reach 17,194 cows including 8,529 dairy cows by the end of 2019 and achieve an 85% self-sufficiency in producing animal feed by 2020.

Investment Co. for Dairy Products (ICDP), which markets Dina Farms' fresh dairy products, has a 70% market share of the fresh milk industry in Egypt.

Qalaa Holdings holds a 54.95% indirect stake in Dina Farms and ICDP.

Earlier, the chief marketing officer of Qalaa Holdings, Ghada Hammouda, revealed the company's plans to inject investments worth EGP 400 million in Dina Farms.

During the first quarter of 2019, Qalaa Holdings trimmed its losses by 6.5% year-on-year to EGP 171.47 million, compared to EGP 183.48 million in the year-ago period, according to the company’s consolidated financial statements.