Reuters – Egypt’s Juhayna Food Industries , one of the country’s largest dairy product and juice makers, plans to invest EGO 400m ($57.5m) in 2014, the firm said in a statement on Wednesday.
The investments will include expanding production capacity in the juice business as well as starting production at a yoghurt factory and setting up and improving logistical sales points and branches, it said.
In December, Juhayna secured an EGP 500m loan from the European Bank for Reconstruction and Development (EBRD) and said it would use the money to finance an expansion of its dairy and juice factories, to produce new products and upgrade its distribution network.
Juhayna, which counts among its clients EgyptAir, Air France and several large hotel chains, reported a 23% drop in its third-quarter net profit, hurt by muted sales growth and one-off foreign exchange losses.
Juhayna, which operates seven factories across Egypt and employs more than 4,500 people, expects to begin production at its new Egyfood yogurt plant and a new dairy farm this year.