Leading Tunisian processed Cheese maker Land’Or is a beneficiary of the European Bank for Reconstruction and Development (EBRD) Value Chain and Competitiveness Programme aimed at supporting the agribusiness sector in Tunisia and Morocco. The Programme which offers a total loan equivalent to €10.9 million will help Land’Or embark on its expansion project across North Africa. The operation is supported by the European Union (EU).
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’s subsidiary in Morocco, Land’Or Maroc Industries (LMI), will receive a loan of 82.2 million dirham (€7.8 million equivalent) 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. It is also designed to manufacture new products and new packaging with the objective of increasing export potential.
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LMI will also benefit from an EU grant through the Bank’s Value Chain and Competitiveness Programme, which 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 since February 2020. The programme, dedicated to high-potential small and medium-sized enterprises, 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. It was created in 1994 by Dr Hatem Denguezli and Dr Hichem Ayed and was listed on the Tunis Stock Exchange in 2013. Land’Or Maroc Industries is the company’s recently established subsidiary in Morocco.
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The EBRD places a strong emphasis on providing finance for private sector firms in Morocco and in Tunisia. Both countries became economies where the EBRD invested in 2012. To date, the EBRD has invested close to €2.5 billion in Morocco through 66 projects. In Tunisia, the Bank has invested €950 million across 47 projects.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry