Dekel Agri-Vision PLC Shipment of infrastructure equipment, Tiebissou (8344M)
May 14 2020 - 2:00AM
UK Regulatory
TIDMDKL
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 +44 (0) 207 236 1177
Cantor Fitzgerald Europe (Nomad and Joint
Broker)
David Foreman, Luke Philippou (Corporate
Finance)
Keith Dowsing (Equity Sales) +44 (0) 207 894 7000
Optiva Securities Limited (Joint Broker)
Christian Dennis
Jeremy King +44 (0) 203 137 1903
St Brides Partners Ltd (Investor Relations)
Frank Buhagiar
Cosima Akerman +44 (0) 207 236 1177
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.
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 rns@lseg.com or visit www.rns.com.
END
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May 14, 2020 02:00 ET (06:00 GMT)
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