Cold Alex invested in a new frozen fruit production line.
Cold Alex is an Egyptian SME that is specialized in producing frozen fruits and vegetables. The business was founded in 1998, and currently runs a factory in Alexandria that processes frozen fruit and vegetables. The local and international markets served by Cold Alex include Canada, the United States of America, Mexico, Europe, United Kingdom, Australia, and the Middle East.
Cold Alex invested in a new frozen fruits production line. To be able to meet the needs of its customers, the company used to rent production machinery from other companies because it did not possess a similar line. Cold Alex was able to lower its operating costs and raise the quality of its products by acquiring its own new production line.
The improved product quality is a result of the company’s ability to monitor the production process parameters such as freezing time and temperature. The improved product quality and reduced operational expenses will allow the company to improve its standards while maintaining its product price, hence enhancing Cold Alex’s profitability, competitiveness and export potential.
The VC Facility team evaluated the technical and financial feasibility of the project, advised the company on best available technologies, and confirmed the potential of product improvement and its positive impact on exports growth, hence the company’s profitability and competitiveness.
The US$ 1,434,945 investment is expected to have a simple payback of 3 years, increase profits and create 30 permanent jobs for 10 males and 20 females.
Egypt Value Chain Financing Facility was developed by the European Bank for Reconstruction and Development (EBRD) and is financially supported by the European Union (EU) and the EBRD Shareholder Special Fund (SSF).
The Sub-borrowers receive an investment incentive for successful project implementation, provided by a grant from the EU.
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