Project Description
The project aims at increasing the Company's product range by adding higher value added products that use local raw materials. This will include: Extended Shelf Life (ESL) pasteurized milk, UHT milk, liquid fruit juice, white cheese, and Mozzarella cheese. This expansion project will enable ICFI to achieve a dominant position in the dairy market using state-of-the-art technology and foreign know-how targeted at the middle and upper classes in Egypt, the MENA, and East Africa.

Project Sponsors
The International Corporation for Food Industries (ICFI) is a joint stock company that was established in 1995 under the Investment Law No. 8 with a paid-in capital of LE 3 million (USD 0.645 million) for the purpose of manufacturing and packaging dairy products including cheese, butter, ghee, fruit concentrates, and powder milk.

ICFI witnessed several capital increases to meet the needs of its continuous expansion. At present, the capital amounts to LE 61.5 million (USD 13.2 million). Shareholders are investors from Egypt and Gulf region.

Project Location
The plant will be located in Borj Al Arab near Alexandria, Egypt, close to the Company's headquarters.

Project Cost
Total project cost is estimated at US$31.6 million

ICD's Role and Developmental Impact
ICD extended a leasing facility not exceeding US$5.5 million to cover part of the costs of the equipment. The Project has a high developmental impact on the country. It is in line with Egypt's comparative advantage in becoming a leader in the food processing industry in the MENA region. Moreover, the project which has significant potential for job creation and exports, introduces a new technology unprecedented in the region for the production of pasteurized milk.