Dekel Agri-Vision PLC Arrival of cashew project milling equipment

TIDMDKL

Dekel Agri-Vision PLC

22 July 2020

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

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

22 July 2020

Arrival of cashew project milling equipment in Côte d'Ivoire

Dekel Agri-Vision Plc, the West African focused agriculture company, confirms milling equipment for the large scale cashew processing project which it is developing at Tiebissou (the 'Tiebissou Project') in Cote d'Ivoire has arrived at the port of Abidjan from Italy on schedule. It is expected the shipment, which will have to clear customs, will take approximately four weeks to be delivered to Tiebissou where work is underway to install infrastructure equipment at the site.

As announced on 8 July 2020, the milling equipment shipment, which comprises 12 containers of electrical, dryer, steam roasting and workshop hardware, is the first of four due to be despatched from Italy by the manufacturer, Oltremare Srl. The remaining three shipments are expected to be shipped and delivered to Côte d'Ivoire in the coming weeks and 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.

Dekel Agri-Vision Executive Director Lincoln Moore said, "With the first of four milling plant shipments now in country, work underway to install infrastructure at the site and the manufacture of milling equipment continuing in Italy, news regarding the development of our large scale cashew processing project in Cote d'Ivoire continues to come in thick and fast. I look forward to providing further updates as we focus on completing the construction of the Project in time to capitalise on 2021's peak harvest season and in the process add a second producing operation to our portfolio of West African focused agriculture projects."

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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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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July 22, 2020 02:00 ET (06:00 GMT)