Edita subsidiary obtains $8.2mln from Arab Bank

Loan will be used to finance the construction of an Edita factory in Morocco

  

Edita Food Industries (Edita) has announced that its Moroccan subsidiary obtained a seven-year MAD 80m loan (EGP 133.2m) from Arab Bank – Morocco.

The loan will be used to finance the construction of an Edita factory in Morocco, and to purchase the machinery and equipment needed for its production lines.

Menatallah Shams ElDin, Investor Relations Officer at Edita, revealed that construction of the new factory will be completed by the end of 2020, to start operations by the beginning of 2021.

She added that construction work will follow the highest standards in both local and international health, in addition to following safety and environmental regulations.

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