Edita Food Industries has signed a 7-year loan agreement of EGP 150m with Crédit Agricole Egypt, to finance its new bakery line which is set to be operational by the first quarter (Q1) of 2022.
Edita announced earlier that it would direct its 2021 capital expenditure (Capex) of around EGP 400m to finance its expansion and industrial operations.
The company is expecting to increase its market share, specifically in the bakery and wafer segments, with further capacity expansions and new innovations and products in the pipeline.
Edita expects to reap the fruits of the recent investments in logistics, marketing, and new lines in 2021 and 2022.
© 2021 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
