๐ Tender Overview
Location:
Egypt
Project number:
55703
Business sector:
Agribusiness
Notice type:
Private
Environmental category:
B
Approval date:
14 Jan 2025
Status:
Approved
English-language PSD published:
30 Jan 2025
Project Description
Provision of a senior unsecured loan of up to EUR 3 million to Agrana Nile Fruits to finance the Company's investment plans for the construction, equipping and placing into operation of a new production line, as well as to refurbish the existing facility in Obour City, Egypt.
Project Objectives
The Project will increase annual production capacity of the Company, as well as enhance its operational efficiency. The Project will allow the Company to expand its export base and eventually become a net exporter of high-quality fruit ingredients to leading dairy produces in Middle East and West Africa.
Transition Impact
ETI score: 63
The Project is expected to contribute to the Competitive and Inclusive qualities. Under the Competitive quality, the Company will have the ability to expand its export operations by targeting leading dairy players in new markets in Middle East and West Africa.
Under the Inclusive quality, the Company will provide training in core production skills to existing and prospective staff in white- and blue-collar positions. Through delivering new training programs, the Company will address this challenge and contribute to increasing employability prospects of workers as well as support business expansion and competitiveness in the market.
Client Information
AGRANA NILE FRUITS SAE
Agrana Nile Fruits S.A.E, is an Egyptian joint venture established in 2010 between Agrana Beteiligungs-AG and Namaa Investment Holding UAE, with ownership allocated as 51% and 49%, respectively.
The Company produces fruit ingredients and concentrates that goes into various food industries such as dairy, dairy alternatives, ice cream, confectionery, food service, beverage, and bakeries. The Company offers its products both locally and in export markets, including the Middle East and Africa regions.
EBRD Finance Summary
EUR 3,000,000.00
A senior unsecured loan of up to EUR 3 million to Agrana Nile Fruits. The Loan will finance the Company's investment plan to increase its production capacity and refurbish the existing facility and will benefit from an irrevocable corporate guarantee from Agrana Beteiligungs-AG.
Total Project Cost
EUR 5,005,000.00
Total project cost is EUR 5.05 million allocated as follows; EBRD loan of up to EUR 3 million and EUR 2.05 million capital injection from the Agrana Beteiligungs-AG.
Additionality
The prospective cooperation with the EBRD has given significant comfort to the Austrian parent company to go ahead with the expansion plans in Egypt. Agrana Group considers the Bank as a strategic partner, which provides additional comfort as they continue to invest and grow their exposure in the Egyptian market, given the volatile politica
