Egypt’s food maker Obour Land to buy 3 production lines, with $8mn investments

Big 5

Egypt’s Obour Land for Food Industries signed a deal to purchase three high-tech production lines with investments worth $8 million, according to Mubasher on Tuesday.

The new white cheese production lines will be 20 percent financed from investments, while the remaining 80 percent will be financed over five years, the food maker company said in a bourse filling.

Catalyst Leasing, a subsidiary of Catalyst Partners, has earlier signed a five-year contract of 135 million pounds with Obour Land.

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 127.26 million pounds, up from 115.18 million pounds during the same period in 2018.