Almarai's subsidiary Beyti drives sustainability via $36mln loan from HSBC Bank
Egypt - Beyti, an Almarai Company subsidiary, has secured a sustainable linked loan agreement amounting to EGP 1.80 billion from HSBC Bank, according to a press release.
The loan aligns with Beyti's commitment to driving sustainability, reducing its carbon footprint, and boosting resource efficiency
Chris Abboud, General Manager of Beyti, commented: "We have successfully localized 67% of our raw and packaging materials, and since 2022, we have diverted 290 tons of plastic waste annually, demonstrating our dedication to recycling solutions and waste reduction. These initiatives are key to our mission of achieving sustainability across every aspect of our business."
Abboud asserted: "This facility is a pivotal step in accelerating our efforts to reach our goals. It gives us the financial flexibility needed to invest in more sustainable solutions across our operations, allowing us to reduce our carbon emissions by 30% by the year 2030, vs 2019."
Todd Wilcox, CEO and Deputy Chairman of HSBC Bank Egypt, said: "This agreement demonstrates HSBC's commitment to providing innovative financing solutions that enable companies to adopt more sustainable practices and facilitate their transition to a low-carbon economy.'
During the three-month period that ended on 31 March 2025, Almarai recorded an annual growth of 5.62% in net profit to SAR 731.19 million, compared to SAR 692.22 million.
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