Obour Land for food industries plans to invest an amount ranging from EGP 105m to EGP 115m to implement a new project for ranching in order to meet its dairy needs.
According to a report issued by the company on Monday, the project will be established on an area of 35 acres, where the investment cost of the project will be financed over the period of three years, however, the company has not explained whether the financing will be self-financing from inside the company or through loaning from banks.
According to the data by the company, it aims to produce 50 tonnes of milk daily.
The company said that the project aims to achieve integration of the company’s activities in terms of providing the necessary dairies which will eventually reduce the costs of production and positively impact profits.
The company added that the size of the project was estimated to include 2,000 Holstein cows to produce the milk imported from Germany on several phases.
The board of directors of Obour Land has agreed amending the company’s objective to add to it the goal of ranching to fatten the cattle and produce milk.
The company produces all dairy produces, in addition to ice creams.
Several companies work in the field of food industries in Egypt, including Juhayna and Domty. The majority of the companies relied on purchasing milk to produce cheese and other products. Over the past few years, these companies started ranching cattle to produce the necessary milk in order to produce the other products.