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CHAMPION OF THE DAY
$20 million snacks factory
started by Abdallah Daher
To export to 42 countries,
including the Far East
Global Snack, a subsidiary of Daher Investment Holding, will open a factory for savory snacks in Ferzol, Bekaa, in summer 2018.
Investment in the project is $20 million. The total built up area is 23,000 square meters (m2). It will be equipped with automated machines imported from the United States.
Daher Investment Holding, chaired by Abdallah Daher, also owns the Poppins’ plant, a manufacturer of breakfast cereals and cereal bars.
Production capacity at Global Snack will reach 20,000 tons per year. The current production capacity of the existing Poppins’ plant is 30,000 tons annually.
Around fifty percent of the production will be exported.
“Our export market is distributed across 42 countries, including China and Indonesia,” Daher said.
The company has recently opened a representative office in Russia. Named “Global Snack Russia”, it intends to facilitate exports.
Daher said that they benefited from subsidized loans to finance the project, as well as benefiting from incentives provided by Investment Development Authority of Lebanon (IDAL).
The factory is expected to create around 200 full time jobs.
Reported by Rania Ghanem
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Apr 21, 2017
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