Forafric, a Leading African Agribusiness, Teams with Alapala to Nearly Double Wheat and Durum Processing Capacity
Forafric Global PLC (NASDAQ: AFRI) has announced a significant partnership with Alapala Foreign Trade LLC to expand its milling operations in Morocco. The agreement involves upgrading three existing mills and constructing three new mills, anticipated to boost wheat and durum processing capacity by 2,370 metric tons per day within 30 months. The total investment for this expansion is approximately one billion Moroccan Dirhams (about US$101 million). The initiative aims to enhance production and strengthen Forafric's market presence in Morocco and Sub-Saharan Africa.
- Expansion of milling capacity by 2,370 metric tons per day within 30 months.
- Total investment of approximately one billion Moroccan Dirhams (~US$101 million), indicating strong financial commitment.
- Collaboration with Alapala, a leader in the milling industry, enhances technological and operational capabilities.
- None.
Under the terms of the agreement, ALAPALA will extend three of Forafric Maroc’s existing mills and construct three new mills. This expansion is expected to increase wheat and durum processing capacity by 2.370 metric tons per 24 hours over the next 30 months. Forafric Maroc’s present crushing capacity represents 2.420 metric tons per day. The global cost of this expansion, including all components, buildings, equipment and working capital is approximately
Gorkem Alapala, Vice Chairman of the
About
Founded in 2003, Alapala Foreign Trade exports machinery for Alapala, MS Italia and
ALAPALA is a leader in the global milling industry with an impressive history of successfully completing more than 700 mills across the globe.
About Forafric
Forafric is a leading agribusiness player in
Forward-Looking Statements
This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.
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FAQ
What is the new partnership between Forafric Global PLC and Alapala Foreign Trade LLC about?
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