Ariel Foods Nigeria (IFC-41665)

Countries
  • Nigeria
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
SKEYA INVESTMENTS MAURITUS
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 14, 2019

Disclosed by Bank Nov 29, 2018


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Project Description

The project involves US$ 10million A loan investment into Skeya Investments (hereafter referred to as “the company”, the Mauritian holding for Ariel Foods FZE Ltd, Nigeria, hereafter referred to as “Ariel”. The investment will be used for the construction of the food processing plant and is expected to sell approximately 6-10k MT of Ready-to-Use Therapeutic Foods (RUTF) product annually. RUTF is a homogenous mixture consisting of peanut paste, sugar, vegetable oil, and milk powder fortified by 23 vitamins and minerals. The manufacturing process involves automated blending of components and packing into sealed foil sachets. Products are ready to eat directly from the sachet and have a 24-month shelf life at 30 degrees Celsius. The food processing plant is located on a 5.4 hectares plot in the Northwest Quadrant of Lekki Free Zone (Phase 3), Epe LGA of Lagos State. The factory will cover 15,414m2. Construction of the plant has commenced and is expected to be completed within 7 months.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
  • Skeya Investments -- Implementing Company
Contact Information

Contact Person: John Kangarua

Company Name: Ariel Foods FZE ltd

Address:  47 adeniyi jones, Ikeja Lagos

Email: Johnk@arielfze.com

 

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