Food Empire Secures $10 Million Loan from EBRD

MT Newswires

03/24

Food Empire (SGX:F03) secured a $10 million loan from the European Bank for Reconstruction and Development (EBRD), according to a filing with the Singapore Exchange on Friday.

The loan will be used for the construction of the company's coffee-mix manufacturing facility in the Khorgos Special Economic Zone in Kazakhstan.

The new facility will produce instant beverages and is expected to export around 50% of the products to Central Asia and the Caucasus.

Shares of the company were down over 2% in recent trading.

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