Egyptian food and beverage company Beyti, owned by a joint venture of Saudi's Almarai and US' Pepsico, said it would invest 250 million Egyptian pounds ($16 million) to build new production lines as part of a plan to enhance distribution and meet growing demand.

The company is one of Egypt's largest dairy juice and yoghurt producers and owns 24 production lines. 

Beyti had invested 204 million pounds ($13 million) in new production and packaging lines last year, it said in a press statement on Sunday. 

CEO Mark Wiley said the company would continue to focus on developing milk collection centres and supporting small-scale producers across the country.

Beyti's milk collection centres have grown to 11 since the launch of its first centre in the western city of Tanta in 2018.  Head of Procurement Mohamed Seif said the company aims to exceed its 2021 growth rate of 31 percent during 2022.

(Writing by Eman Hamed; Editing by Anoop Menon)
(anoop.menon@lseg.com)

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