Shipment of infrastructure equipment, Tiebissou

RNS Number : 8344M

Dekel Agri-Vision PLC

14 May 2020

 

The 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.

Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers

14 May 2020

Dekel Agri-Vision Plc

('Dekel' or the 'Company')

Shipment of cashew project infrastructure equipment

Dekel Agri-Vision Plc, the West African focused agriculture company, is pleased to provide a further update on the development of its 10,000 tpa (expandable to 30,000 tpa) raw cashew nut ('RCN') processing project at Tiebissou in Côte d'Ivoire (the 'Project'). 

Dekel has been advised that the entire shipment from China consisting of 32 containers of infrastructure equipment for the construction of the Project has departed.  The shipment is expected to arrive at the port of Abidjan in Côte d'Ivoire in early July 2020. 

This shipment of infrastructure equipment from China follows the recommencement of the manufacture of milling equipment in Italy which had been suspended for a number of weeks as a result of the COVID-19 outbreak in the country (see announcement of 12 May 2020).  Together with groundworks continuing at the site in Tiebissou with minimal disruption, Dekel continues to expect that the mill will be commissioned by April 2021.

Dekel Agri-Vision Executive Director Lincoln Moore said, "The shipment of infrastructure equipment from China is another positive step towards the construction of our large-scale cashew processing operation at Tiebissou. There was undoubtedly going to be delays due to COVID-19, so we are pleased to see activity resuming in good time, not just in China but also in Italy where the mill equipment is being manufactured.  I look forward to providing further updates on the Project's progress as we focus on having the mill operational in H1 2021 and in the process, adding a second producing project and a second revenue stream to our portfolio."

** ENDS **

For further information please visit the Company's website or contact:

Dekel Agri-Vision Plc Youval Rasin Shai Kol Lincoln Moore [phone] Cantor Fitzgerald Europe (Nomad and Joint Broker) David Foreman, Luke Philippou (Corporate Finance) Keith Dowsing (Equity Sales) [phone] Optiva Securities Limited (Joint Broker) Christian Dennis Jeremy King [phone] St Brides Partners Ltd (Investor Relations) Frank Buhagiar Cosima Akerman [phone]

Notes:

Dekel Agri-Vision Plc is a multi-project, multi-commodity agriculture company focused on West Africa.  It has a portfolio of projects in Côte d'Ivoire at various stages of development: a fully operational palm oil project in Ayenouan where fruit produced by local smallholders is processed at the Company's 60,000tpa crude palm oil mill; a cashew processing project in Tiebissou, which is due to commence production in 2021; and a second palm oil project in Guitry which is under development. 

 

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