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Almarai, PepsiCo to invest $345m in Egypt

: Monday, June 23 - 2014 @ 04:42

The GCC region’s biggest dairy company, Saudi-based Almarai has said it will invest with US soft drinks giant PepsiCo at least $345m in Egypt over the next five years, Reuters has reported. The investment would be conducted through Egyptian dairy and juice products firm International Company for Agro-Industrial Projects (Beyti), a subsidiary of International Dairy & Juice Ltd, which is owned 52% by Almarai, and the remainder by PepsiCo. The investment plan includes setting up a new juice factory, expanding existing facilities, increasing Beyti’s fleet of vehicles and sales network, and creating a new dairy farm for 5,000 cows, Beyti’s chief executive Mohamed Badran, said.

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Monday, June 23- 2014 @ 4:42 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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