43.9 C
Tunisia
Thursday 24 June 2021
HomeNewsTunisia: Land'Or invests €16 million in a cheese plant in Kenitra, Morocco

Tunisia: Land’Or invests €16 million in a cheese plant in Kenitra, Morocco

The Moroccan Minister of Industry, Moulay Hafid Elalamy recently signed an investment agreement with the CEO of the Tunisian dairy company Land’Or, Hatem Denguizli, for the opening of a plant in Kenitra.

“The signing of an investment agreement with Hatem Denguizli, CEO of the Land’Or group, which will invest 102 million dirhams in a cheese factory in Kenitra, will generate 102 direct jobs,” Elalamy announced.

Rather than exporting products from Tunisia to Morocco, Land’Or will supply the Moroccan market locally. In 2019, Moroccan consumers accounted for 28% of Land’Or’s turnover, the Morocco World News site reminds.

The plant, which would be operational in the first quarter of 2021, requires an investment of €16 million and will cover an area of 3,300 square meters on a 1.3 hectare plot of land.

The company secured e10 million for the project in May 2019, while the Central Bank of Tunisia will finance the remaining €6 million.

The plant will specialize in the production of canned cheese, melting cheese and fresh cheese.

The company’s CEO said last June the company will begin ordering industrial equipment worth €5.2 million this year

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

MOST POPULAR

HOT NEWS