(MENAFN) Three entrepreneurs inked a JV deal to establish a Camel milk joint venture in Morocco to produce and export Camel milk to EU under the name Vitamol Camel Diary and Products, Arabian Business reported.
Germans Malik Dakdaki and Martin Wilke and Moroccan Abdelkader Saoudi, the three partners who set up the JV, plan to invest USD40 million in the project.
The milk, which will be sold under the brand name Vitamol, will be produced in a farm consisting of around 2,200 camels and pulverised and prepared for daily delivery to Europe at a plant set to be built on land in the Tangier Free Zone.
Malik Dakdaki said the first shipment of camel milk is scheduled to reach European shelves in mid 2013.
He explained that one of the products will be the world's first camel milk baby powder, as more and more babies have a problem with lactose intolerance.
In its business plan, Vitamol expected EU to account for 50 percent of its sales, 30 percent in the UAE and 20 percent around the rest of the world. The company is projecting sales of around USD25 million a year.