Almarai, PepsiCo to invest $345m in Egypt

June 23, 2014 4:42 am

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.