By Ahmed Allam
Cairo – Mubasher: Egypt’s dairy and juice producer Beyti is planning to raise its capital to more than EGP 1.5 billion during 2016 and to open up new export markets, said CEO Mohammed Badran.
The juice company, formally known as the International Company for Agro Industrial Projects, also targets to increase sales to more than EGP 2.5 billion from EGP 2 billion in 2015, Badran exclusively told Mubasher in an interview.
In a ceremony attended by the Investment Minister, the CEO laid the cornerstone of a new plant in Nubaria City, east of Cairo, which will be built over 60,000 sqm with a production capacity of 1.5 billion cans.
The top executive added that the company also seeks a rise in export sales from 5% to 20% of the total value by opening new markets in the Middle East and Africa.
Beyti currently exports its products to Libyan, Iraqi, Palestinian, and Yemeni markets.
Beyti has a 15-20% share in the Egyptian market, seeking to boost it to 25% by 2016 and to 35-40% after the launch of operations at the new plant by the first quarter of 2018, according to Badran.
Moreover, the company, which operates with authorised capital of EGP 3.17 billion, is acting on rasing the paid-in and issued capital to EGP 1.5 billion from EGP 966.5 million for funding future expansions.
“Beyti was established in 1998 with the acquisition of the largest commercial dairy farm in Egypt from the Saudi Group Dallah Al-Baraka. Today, Beyti produces a number of agrifoods products, from 100% natural milk to a variety of spoonable and drinkable yoghurts, as well as cooking and whipping creams, for domestic consumption and export sales”, according to the company’s official website.
Translated by Ahmed El-Sayed Ali
