Egypt’s Juhayna Secures $72.7 mln Loan from EBRD

The European Bank for Reconstruction and Development (EBRD) and Juhayna Food Industries S.A.E. (JUFO.CA) –leading Egypt-based manufacturer specialized in the production, processing and packaging of milk, yoghurt, juice and juice concentrate – signed a framework agreement worth EGP 500 million, the company’s CEO Safwan Thabet announced on Tuesday.

Upon the agreement, EBRD will provide Juhayna with EGP 500 million loan in order to carry out local business expansions.

“This is the first time EBRD grants a loan to an Egyptian firm … the loan is a 7-year term, designated for adding new production lines for milk and juice besides launching new products so as to bolster our distribution network.” Thabet told Reuters in a telephone interview.

Pioneering the production of diary and juice products for over three decades, Juhayna has 7 factories with a production capacity amounts to 2900 tons per day.

Juhayna’s main competitors in Egypt’s market is Saudi-based Almarai Co., Nestlé SA and Danone SA.

*This story has been edited and translated by Amwal Al Ghad English.