Forafric Expands Milling Capabilities with Decade-Long Facility Lease

Tuesday 07 May 2024 - 12:10

Forafric, a leading agribusiness player with operations in Morocco and across Sub-Saharan Africa, has signed a 10-year renewable contract to lease and operate a milling facility in the Meknès-Fès region. This move is expected to significantly increase the company's milling capacity.

This strategic agreement represents a major step in Forafric's expansion. By acquiring this facility, the company aims to increase its milling capacity by 600 tons per day, including 470 tons for soft wheat and 130 tons for durum wheat.

"This contract allows us to expand our milling capacity with minimal capital investment," said Saad Bendidi, President of Forafric. "The location and the state-of-the-art equipment of the facility were key factors in our decision. Additionally, we plan to optimize the operations to add more value."

The contract is subject to regulatory approvals and other customary closing conditions. Forafric expects to start operations at the new facility by the third quarter of 2024.

With its strong presence and commitment to excellence, Forafric's acquisition of this modern milling facility strengthens its position in Africa's agribusiness sector, paving the way for sustained growth and innovation in the region's food production industry.