Qatar’s Baladna is planning to invest USD 1.5 bn in Egypt’s dairy industry

Got milk? The Suez Canal Authority signed a joint cooperation memorandum with Qatari dairy producer Baladna that will see USD 1.5 bn invested into developing the local dairy production and processing industry, according to a cabinet statement released yesterday. The project will enhance food security, create jobs, and reduce the country’s import bill and use of hard currency, the statement added.

Cattle farm, feed production on the menu: The investment will establish a cattle farm with 20k cows with annual production capacity of 300 mn liters of milk. Baladna will also cultivate 280k acres in the New Valley Governorate, which will provide feed and agricultural products for the project, local use, and export. No timelines for the implementation of the project were announced.

Baladna is no stranger to the Egyptian market: The Qatari company has been increasing its stake in Egyptian dairy giant Juhayna over the last few years and is now its second-largest shareholder with more than 15% of the company. Baladna first bought into the company in July 2021, after which it raised its stake to 5% in March 2022 and 10% two months later.