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Wednesday, 26 October 2016

Juhayna reducing investments, sourcing raw materials domestically

Juhayna is postponing new investments and is focused only on completing existing projects, the company said in a statement. The nation’s leading dairy products company is also trying to maximize the volume of raw materials it sources domestically to curb imports and overcome the USD shortage. A planned EGP 640 mn investment in upgrading transportation and distribution, adding production lines, and growing dairy and livestock farms has been cut back to EGP 500 mn. Sourcing USD from the parallel market has driven up the cost of production, CEO Seif El Din Thabet told Al Mal, but prices to consumer are up only 10%.

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