Penultimate shipment of Cashew Milling Equipment

RNS Number : 6919D

Dekel Agri-Vision PLC

30 October 2020

 

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

Dekel Agri-Vision Plc ('Dekel' or the 'Company')

30 October 2020

Penultimate shipment of Cashew Milling Equipment

Dekel Agri-Vision Plc, the West African focused agriculture company, is pleased to announce that it has been advised by Italian manufacturer, Oltremare Srl, that the third shipment of milling equipment for its large scale cashew processing project at Tiebissou in Côte d'Ivoire (the 'Project'), has departed Italy.  The shipment is expected to arrive at the port of Abidjan in Côte d'Ivoire in approximately four to six weeks.

The shipment is the third of four due to be despatched from Italy and comprises four 40ft containers.  The remaining shipment of milling equipment is expected to be shipped and delivered to Côte d'Ivoire in the coming months.  Further updates will be provided to the market in due course.

The delivery of the milling equipment falls under the turnkey contract signed with UK-based engineering company Overseas Projects & Services Limited, a related entity of Oltremare Srl for the engineering, manufacture, delivery, installation and commissioning of the Project, which is expected to become operational in Q2 2021.  At this point Tiebissou will become Dekel's second producing project, alongside its established palm oil operation at Ayenouan in Côte d'Ivoire.

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.

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For further information please visit the Company's website at www.dekelagrivision.com or contact:

Dekel Agri-Vision Plc Youval Rasin Shai Kol Lincoln Moore [phone] Arden Partners Plc (Nomad and Joint Broker) Paul Shackleton / Ruari McGirr / Dan Gee-Summons (Corporate Finance) Simon Johnson (Corporate Broking) [phone] Optiva Securities Limited (Joint Broker) Christian Dennis Jeremy King [phone] St Brides Partners Ltd (Investor Relations) Frank Buhagiar Cosima Akerman Megan Dennison [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 Q2 2021. 

 

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