Cairo – Mubasher: Obour Land for Food Industries signed a contract to purchase three high-tech production lines with investments of $8 million.
The new white cheese production lines will be 20% financed from investments, while the remaining 80% will be financed over five years, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday.
Earlier on Tuesday, Catalyst Leasing, a subsidiary of Catalyst Partners, signed a five-year contract worth EGP 135 million with Obour Land for Food Industries.
Under the deal, Catalyst Leasing will provide Obour Land with new high-tech machines from Tetra Pak.
During the first half of 2019, Obour Land logged a net profit of EGP 127.26 million, compared to EGP 115.18 million in the year-ago period.