France’s Lactalis inaugurates Second Dairy Factory in Egypt

Egypt’s Minister of Investment Ashraf Salman inaugurates Tuesday a dairy factory affiliated to France-based Lactalis Group. The new factory, Al Nour 2 is set to provide 4.625 job opportunities and to export its products to 49 states all over the world.

During the opening of Al Nour 2 factory in 10th of Ramadan City, Salman stated that Egyptian economy achieved GDP growth rates of 5.5 % in the first half of current fiscal year 2014-2015.

Lactalis is a multi-national dairy products corporation, owned by the Besnier family and based in Laval, Mayenne, France. It is the largest dairy products group in the world, and is the second largest food products group in France.

Salman clarified that Egypt’s direct foreign investment (FDI) has reached US$3 billion within the first half of FY 2014-2015 and expected to hit US$8 billion at the end of current fiscal year.

The minister further clarified that the amount of local investments are expected to mark EGP 330 billion (US$43.2 billion) at the end of current fiscal year.

Al Nour 2 is built on a space of 32.000 square metres and allocated to produce juices and pasteurized milk with capacity of 90.000 tonnes annually.

On the other side, Salman said France is on the top of non-Arab foreign firms that invest in Egypt.