MOROCCO – Oland Group, a Moroccan agri-food manufacturer specializing in the production of cheese and butter, has inaugurated four new processing lines dedicated to the processing of melted cheese triangle in Casablanca.
The new invest tagged at a cost of 80 million dirhams (US$8.09m), aligns with Morocco’s national strategy for developing the dairy sector to meet local needs and extend exportation services.
In support of the Initiative, Oland is set to benefit from an investment premium of around 15 million dirhams (MDH) (US$1.52m) over 3 years from the state.
This is courtesy of an investment agreement signed by the company and Morocco’s Ministries of Finance and Industry and the National Agency for the Promotion of Small and Medium Enterprises (ANPME) as part of sectorial support initiative.
“This project, which we supported under the program contract and the Sovereignty Working Group, is fully consistent with the goals set by the government, which aims to strengthen and revitalize the dairy sector to meet the needs of the local market and export,” affirmed Minister of Industry and Trade, Mr. Ryad Mazour.
The new investment which raised the number of the group’s production lines to 14, will meet local demand of cheese and enable export of the commodity to African markets, the Middle East and North America.
It is clear that with the new investment, Oland is ready to bite a huge chunch of not only MEA region’s cheese market which is expected to reach US$10.5 billion by 2026 according to Market Data Forecast, but also serve the multi-billion-dollar global market expected to hit US$112.8 billion by 2025.
Marwane Anbaoui, CEO of Oland Group said, “The program has enabled us to create 151 direct jobs, three Made in Morocco brands and plans to export cheese worth US$4 million by 2024.”
Founded in 2002, Oland Group operates from a 20,000 m2 industrial unit. Since 2017, it has invested in modern industrial facilities and machinery, with a value of 200 million dirhams.
Currently its production chain employs about 400 people with an annual production capacity of 15,000 tons.
In April, the company received the best flavor award for 2022 for its slice cheddar and Emmental cheese of its Boule d’Or brand. The group also owns Oland and El Mejor Chef products.
In the North African market, Oland operates alongside players such as Tunisian dairy processor, Land’Or, who is rapidly expanding in Morocco.
Recently, Land’Or received a €3.5 million (US$3.95m) loan from the European Bank for Reconstruction and Development (EBRD) to finance establishment of a new processing facility with a capacity of 5,000 tons of fresh, melting and canned cheese.
Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE