Land’Or receives financing from EBRD to support Morocco, Tunisia expansion

MOROCCO/TUNISIA North Africa’s cheese making giant, Land’Or has received financing from the European Bank for Reconstruction and Development to support the company’s plan to expand operations in Morocco and Tunisia.

According to a statement from EBRD, the financial support accorded to the cheese making company amounted to €10.9 million (about US$12.9 million).

In Tunisia, the EBRD will provide a loan of 10 million dinar (€3.1million equivalent) to procure new machinery and increase the production capacity.

Land’Or will also optimise the processes in its Tunisian plant by improving its industrial standards, investing in productivity, quality and safety.

Meanwhile, Land’Or Maroc Industries (LMI), will receive a loan of 82.2 million dirham to finance the acquisition and installation of equipment at its new cheese manufacturing plant, to be built in Kenitra, north of Rabat.

This facility is expected to be operational by the end of 2021 and will have a capacity of 2,700 tonnes of processed triangle cheese per year.

The Maroc facility is also designed to manufacture new products and new packaging with the objective of increasing export potential.

EBRD further noted that Land’Or will also benefit from the EBRD Value Chain and Competitiveness Programme supported by the EU.

According to EBRD, the value chain programme aims to improve value chains and make businesses more competitive across the southern and eastern Mediterranean region.

Land’Or has been part of the EBRD Blue Ribbon programme which is dedicated to high-potential small and medium-sized enterprises.

EBRD revealed that the programme is helping the company through technical assistance to adopt International Financial Reporting as well as increasing its export potential and operational efficiency.

Land’Or, a Tunisian joint-stock company, is one of the leading local processed cheese producers in Maghreb region.

It was created in 1994 by Dr Hatem Denguezli and Dr Hichem Ayed and was listed on the Tunis Stock Exchange in 2013.

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