Business
Cashew Project Update
Cashew Project Update.
About this update from Dekel Agri-vision Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 8671B\n Dekel Agri-Vision PLC\n 15 June 2021\n \n \n \n \n \n \n \n Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers\n \n \n \n \n \n Dekel Agri-Vision Plc ('Dekel' or the 'Company')\n \n \n Cashew Project Update\n \n \n \n \n \n Dekel Agri-Vision Plc, the West African agriculture company focused on building a portfolio of sustainable and diversified projects, is pleased to provide an update on activity at its large scale cashew processing plant at Tiebissou, Côte d'Ivoire (the 'Cashew Project'), where the construction phase is nearing completion and Raw Cashew Nut ('RCN') purchasing has commenced in readiness for the commencement of production. Dekel holds a 70.7% interest in the Cashew Project which, once operational, will become the Company's second producing asset, alongside the 100%-owned palm oil operation at Ayenouan.\n \n \n \n \n \n Raw Cashew Purchasing\n \n \n Management is initially aiming to purchase approximately 3,000 - 3,500tn of RCN prior to the commencement of production. Currently, 1,500 tns have been purchased, and, as a result, Dekel remains on track to achieve the above target. The Company is highly encouraged by both the quality and price of the RCN purchased, both of which have been in line with internal expectations. A drying system is being installed at the Cashew Project which will enable further purchases of RCN during the H2 2021 wet season, as the Company better understands initial production rates post the commissioning of the processing plant.\n \n \n \n \n \n Construction and Recruitment Update\n \n \n Excellent progress has been made with the construction of the plant. A list of milestones achieved and work outstanding is provided below:\n \n \n · \n Both the Employees' and the Administrative building structures are ready, internal works are in progress\n \n \n · \n Weighbridge is ready for operation\n \n \n · \n Installation of water supply and electrical networks and fire fighting equipment will be completed imminently \n \n \n · \n Building A is completed and ready for receiving RCN - total of 1,500 tns of RCN already purchased and in storage in Building A, where the sorting and drying equipment have been positioned \n \n \n · \n Low risk area of Building B is ready and the machinery, includi...