Business
Contract to Construct Cashew Processing Plant
Contract to Construct Cashew Processing Plant.
About this update from Dekel Agri-vision Plc
[{"type":"text","content":"\n \nRNS Number : 7792F Dekeloil Public Limited 31 October 2018 \n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (\"MAR\"). Upon the publication of this announcement via a Regulatory Information Service (\"RIS\"), this inside information is now considered to be in the public domain.\n \nDekelOil Public Limited / Index: AIM / Epic: DKL / Sector: Food Producers\n \n31 October 2018\nDekelOil Public Limited ('DekelOil' or 'the Company')\nContract Awarded to Construct Cashew Nut Processing Plant\n \nDekelOil Public Limited, the West African focused agricultural company, is pleased to announce that Capro CI SA ('Capro') has awarded and signed a turnkey contract for the construction of a large scale cashew processing project at Tiebissou in Cote d'Ivoire (the 'Project'), to Overseas Projects & Services Limited ('OPSL'), an engineering and manufacturing company based in the UK. OPSL is a related entity of Oltremare Srl, an established industrial company based in Italy who is acting as the guarantor of OPSL for the turnkey contract. As previously announced, DekelOil has an option to acquire a 58.5% interest in Pearlside Holdings Ltd (\"Pearlside\"), which is developing the Project through its wholly owned subsidiary, Capro.\n \nUnder the terms of the turnkey contract, OPSL will assume responsibility for the engineering, manufacture, delivery, installation and commissioning of the Project, together with the training of personnel to operate the Project. The Project will have an initial capacity to process at least 10,000 tonnes per annum ('tpa') of raw cashew nut, however the Project has been designed so that it can be scaled up to process approximately 30,000tpa. In the Board's opinion, the Project will be less labour intensive and more cost efficient than those more traditional designs of raw cashew nut processing plants in West Africa. \n \nThe total value of the contract is approximately €6.5 million. OPSL will undertake to deliver the plant, including storage and factory buildings, processing machinery and utilities to Capro once it has been fully tested and commissioned. This is expected to be in late 2019. \n \nDekelOi...