Egyptian dairy Domty plans 200 million pounds Investments after IPO

Arabian Food Industries Co (Domty), one of Egypt’s top dairies, is planning to pump new investments worth 200 million Egyptian pounds (US$26.2 million) in the country within 2016.

Speaking to Amwal Al Ghad on Saturday, Omar El-Domaty – Domty’s Chairman – asserted that the anticipated investments would be pumped just after the completion of floating 30% of the company’s shares on the Egyptian Exchange (EGX) at the end of 2015.

El-Domaty clarified that the new investments would go for boosting the company’s production capacity which accounts for 80.000 tonnes of cheese annually through adding new production lines.

Moreover, the chairman added that Domty is targeting increasing its sales volume by 20% in 2015. In 2014, Domty’s sales recorded 1.1billion pounds.