| Project Detail |
Project Description
Provision of a long-term loan of up to USD 44 million or equivalent in the local currency of Egypt (the "Loan") to International Company for Agricultural Industries Projects (Beyti) JSC (the "Company" or "Beyti"), a company organized in Egypt and active in dairy and fruit juice processing.
The Company is ultimately owned 52% by Almarai Company, one of the largest integrated consumer food producers in the MENA region, headquartered in Saudi Arabia, and 48% by PepsiCo Inc., one of the largest beverage and snacks producers globally.
Project Objectives
The Loan will support: (i) refinancing of existing short-term loans used for capex with a longer tenor loan more adapted to the Companys investment program, and (ii) capex investments to expand Beytis dairy and juice production capacities and distribution network to strengthen its presence in the
Egyptian dairy and juice sectors. |
