Sign In
17 Jun 2008 07:00
17th June 2008
LONRHO PLC
("Lonrho" or the "Company")
Lonrho to develop an agri-processing and cold store facility and a 100 hectare agriculture project at Lilongwe, Malawi
Lonrho Plc (AIM: LONR), the conglomerate with a structured portfolio of African investments, is pleased to announce that it has signed an agreement with the Government of Malawi to develop an international standard cold store and agri-processing and packing facility at Kamuzu International Airport in Lilongwe, in conjunction with developing a 100 hectare agricultural project adjacent to the airport.
Following the agreement with Airport Developments Limited ( ADL ), a 100% owned subsidiary of the Malawian Government, Lonrho will develop a quality control process; agri-processing facility; packing house; and cold store for fruit, vegetables and flowers. The facility will provide the necessary infrastructure for the Malawian agricultural sector to commence international exports of agricultural produce and flowers.
It is envisaged that formal agriculture will supply 30 - 40% of the processing plant input, and that 60 - 70% will be sourced from local indigenous small farmers. Lonrho will provide agronomist advice to aid local farmers to increase yields and quality of production.
Lonrho will pay a nominal ground rent for the 100 hectare farm and the site for the new facility. The new facility will be located with direct access to the airport apron for ease of handling and will be located at the existing logistics terminal at Kamuzu International Airport. ADL will receive a royalty payment in relation to the turnover of the new business.
Geoffrey White, Lonrho's Chief Executive Officer commented:
"The agricultural sector in Malawi has grown considerably in recent years and the level of production by local farmers clearly provides the opportunity for export. The development of an international standard agri-processing facility in Lilongwe in conjunction with a large agricultural project will provide benefits to the wider agricultural sector in Malawi bringing better economic returns for indigenous farmers and through advice and training to local farmers improve quality and yields. "
LONRHO ENQUIRIES
|
Lonrho Plc |
+44 (0)20 7016 5105 |
|
David Lenigas, Executive Chairman |
+44 (0)7881 825 378 |
|
Geoffrey White, Chief Executive Officer |
+44 (0)7717 307 308 |
|
Emma de Borchgrave, Executive Director |
+44 (0)7867 785 177 |
|
|
|
|
Pelham PR |
|
|
Charles Vivian |
+44 (0) 20 7743 6672 |
|
|
+44 (0) 7977 297903 |
|
James MacFarlane |
+44 (0) 20 7743 6375 |
|
|
+44 (0) 7841 672831 |
|
|
|
|
Collins Stewart Europe : NOMAD to Lonrho |
|
|
Hugh Field |
+44 (0) 20 7523 8350 |
NOTES TO EDITORS
About LONRHO:
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful business throughout Africa. The Company's shares are traded on the London AIM stock exchange (LONR). Lonrho is strategically focused on the development of business opportunities in infrastructure, transportation, support services, hotels and natural resources. The Company has over 19,000 shareholders and substantial institutional backing to support its mandate to build a profitable business that plays a fundamental role in the development of the African economy.
Since 2006, the Company has invested in or acquired control of:
Hotel Cardoso - www.hotelcardoso.co.mz (retained)
Lonrho Mining - www.lonrhomining.com
Luba Freeport - www.lubafreeport.com
Fly540 - www.fly540.com
Swissta Holdings - www.swissta.com
SA Independent Liner Services - www.saliners.com
Bytes and Pieces www.bytespieces.com
Kwikbuild - www.e-kwikbuild.co.za
LonZim - www.lonzim.co.uk
Follow the stocks
