EGYPT – It’s a new dawn for Bake Land Egypt, a major player in bakery and confectionery in Egypt, as it commissions the construction of a US$23 million manufacturing facility to expand its product diversification capabilities.
The new investment, financed with equity, is envisioned to increase the company’s annual production capacity to 70,000 tons against a current 15,000 tons and is scheduled to start operations within 3 years, revealed Abu Zeid in an interview with al borsa.
According to Zeid, the initiative is part of the company’s strategy to diversify its production in the tomato paste segment to take advantage of the growing demand in the local and international markets.
“With the opening of the new factory, our activities related to bakery and confectionery products will be transferred there, and the existing factory will be used to manufacture tomato concentrates with the aim of supplying the local market and exporting,” said Mr. Zeid.
Bake Land Egypt was founded in 2002 as an addition to a leading industrial and trading entity in the Egyptian Market under the name of Fahmy Group and is one of the first and leading companies producing and trading in bakery and confectionery Raw Materials and Mixes in Egypt and the Middle East.
The company also provides a wide range of inputs for the bakery and confectionery industry, such as yeasts, bread improvers, and ready-to-use mixes for making sponge cakes or muffins.
For nearly a decade, the bakery and confectionery segment in Egypt has been booming. Driven by a growing market and the private sector, the industry is registering new investments to provide baked goods, the county’s staple.
According to the country’s data, Egyptians consume about 180–210 kg of bread per capita annually, nearly three times the global average of 70–80 kg per capita.
The consumption capacity has also led to Egypt becoming the world’s largest importer of wheat, producing some 121 billion loaves of subsidized bread every year.
With greater capacity, Bake Land Egypt, will be in a vantage position to support bakeries meet Egypt’s insatiable demand for bakery products.