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Egypt's Dina Farms secures $15.3m loan to boost capacity
- Egypt: Saturday, September 29 - 2012 at 03:14
Egypt's private equity firm, Citadel Capital (CCAP) has said the country's largest dairy producer, Dina Farms, has secured EGP92m ($15.3m) in funding to expand its milk production capacity by a third by 2013, Ahram has reported. Dina Farms is a portfolio company of Gozour, CCAP's agriculture and consumer foods arm, which is 20% owned by the private equity firm. "We are currently witnessing a market that is suffering from an undersupply of milk, which has led to a recent increase in factory prices. The country as a whole needs new investment in dairy farms," Hanee Afia, CEO of Gozour's Integrated Dairy Business was quoted as saying by CCAP. "An increase in our dairy capacity will help to offset the imbalance and close the import gap," he added.
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