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Wednesday, 13 July 2016

Saudi’s Aujan Group freezes plan to build Rani factory in Egypt

Saudi’s Aujan Group Holding has frozen its expansion plan in Egypt over greenback shortages, sources tell Al Mal. The plan included a new factory in 6 October to domestically produce Rani, a branded soft drink. Aujan Industries had announced in 2014 its intent to invest USD 100 mn into the factory as a launching point to enter the African market. Aujan will continue to operate in Egypt by importing from its factory in Saudi Arabia and producing Rani domestically at a Coca-Cola production line in Six October owned by Aujan Coca-Cola.

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