Saudi food company Almarai secures US$100m funding to expand subsidiaries

SAUDI ARABIA – Almaria, the Gulf’s leading dairy company based in Saudi Arabia, has secured US$100 million funding from the European Bank for Reconstruction and Development (EBRD) to boost operations of its subsidiaries. Almaria intends to use up to US$90 million of the proceeds from the loan to fund its dairy and juice production capacity expansion for its subsidiary in Egypt, Beyti. The dairy and juice company has also earmarked US$10 million for Teeba in Jordan to strengthen its capital base and fund its permanent working capital needs. EBRD said…

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