Dairy maker Beyti to inject $510mn into Egyptian market

Egyptian milk and juice maker Beyti targets pumping new investments worth 4 billion pounds (US$510.7 million) into local market within the upcoming five years,  Managing Director Mohamed Badran stated Saturday.

The investments of Beyti -formerly known as International Company for Agro Industrial Projects- are set to be injected  into different agro industrial and food industries projects notably establishing large farm that encompasses 20,000 cows.

The investments are expected to provide around 30,000 job opportunities within the upcoming period, Badran clarified.

The official made these remarks during a conference to lay the cornerstone for company’s new juice factory in Nubariah region at Cairo-Alex Desert Road with investments of one billion pounds.

The cornerstone was laid by Egyptian Investment Minister Ashraf Salman on Saturday.

Badran pointed out that Egypt is one of the important markets in which Beyti plans to expand.

About the new factory, the managing director added that the company has started establishing it through the joint support it received from Saudi-based Almarai and PepsiCo companies.

On other side, minister Salman noted that investment ministry is working on encouraging private investments and attract more local, Arab, and foreign investments to Egypt.

The ministry is achieving that through promoting investment, enhancing local investment, providing facilitated and privileged services for businessmen through creating suitable climate for investment, Salman said.