Egypt Obour Land to get EBRD’s loan for new dairy farm
The European Bank for Reconstruction and Development (EBRD) has agreed to provide a $7 million loan to Egyptian dairy producer Obour Land for the establishment of a new dairy farm.
Obour Land’s new facility will be able to produce 60t of milk per day from 2,500 dairy cows. The raw milk from this farm will be supplied to a newly established ultra-heat treatment (UHT) processing line.
The staff members at the new dairy facility will receive training in the latest milking operational technologies and processes.
In a press statement, EBRD said: “The prospects for expansion are promising. Growth in the dairy products market, driven by high demand and consumer preferences shifting towards packaged milk following increased health and safety awareness in Egypt, has encouraged dairy farms to expand rapidly.”
Established in 1997, Obour is a joint-stock company and is involved in the production of UHT packaged milk and juice, as well as different types of white cheese.
Obour Land is said to be one of the leading players in the local white cheese market, and its sales had reached 2.1 billion Egyptian pounds ($117.2 million) last year.
EBRD’s investment will also help identify suitable animal welfare practices.
Source: Drinks Insight Network