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17 Jun 2008 07:00
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17thΒ Β Β JuneΒ 2008
LONRHO PLC
("Lonrho"Β or theΒ "Company")
LonrhoΒ toΒ develop anΒ agri-processing andΒ cold store facilityΒ andΒ a 100 hectare agriculture project atΒ Lilongwe,Β Malawi
Lonrho Plc (AIM: LONR), the conglomerate with a structured portfolio of African investments, is pleased to announce that it has signed an agreementΒ with the Government of MalawiΒ toΒ develop an international standard cold store and agri-processing and packing facility atΒ KamuzuΒ 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.Β The facility will provide the necessary infrastructureΒ for theΒ Malawian agricultural sector toΒ commence international exports of agricultural produce and flowers.
It is envisaged that formal agriculture will supplyΒ 30 -Β 40% of the processing plant input, andΒ thatΒ 60Β - 70% will be sourced from local indigenousΒ small farmers.Β Lonrho will provide agronomistΒ advice to aid local farmers to increase yields and quality of production.Β
Lonrho willΒ pay a nominal ground rent for theΒ 100 hectare farm and the site for the new facility.Β 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 atΒ KamuzuΒ InternationalΒ Airport. ADL will receive a royalty payment in relation to the turnover of the new business.
Geoffrey White, Lonrho'sΒ ChiefΒ ExecutiveΒ OfficerΒ commented:
"TheΒ agricultural sector inΒ MalawiΒ has grown considerably in recent years and the level of production byΒ local farmers clearly providesΒ the opportunity for export. The development of an international standardΒ agri-processing facility inΒ LilongweΒ in conjunction with a large agricultural project will provide benefits to the wider agricultural sector inΒ MalawiΒ bringing better economic returns for indigenous farmers and throughΒ advice andΒ trainingΒ to local farmersΒ improve quality and yields.Β "
LONRHO ENQUIRIES
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LonrhoΒ Plc |
+44Β (0)20Β 7016Β 5105 |
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DavidΒ Lenigas,Β Executive Chairman |
+44Β (0)7881Β 825Β 378 |
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Geoffrey White, Chief Executive Officer |
+44 (0)7717 307 308 |
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EmmaΒ de Borchgrave,Β ExecutiveΒ Director |
+44Β (0)7867Β 785Β 177 |
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Pelham PR |
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CharlesΒ Vivian |
+44Β (0)Β 20Β 7743Β 6672 |
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+44Β (0)Β 7977Β 297903 |
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James MacFarlane |
+44Β (0)Β 20Β 7743Β 6375 |
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+44Β (0)Β 7841 672831 |
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Collins Stewart Europe : NOMAD to Lonrho |
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Hugh FieldΒ |
+44Β (0)Β 20Β 7523Β 8350 |
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NOTES TO EDITORS
About LONRHO:
Lonrho Plc is an expanding conglomerate that is rapidly growing a successful business throughoutΒ 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.Β
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Since 2006, the Company has invested in or acquired control of:Β
Hotel Cardoso -Β www.hotelcardoso.co.mzΒ Β (retained)
Lonrho Mining -Β www.lonrhomining.comΒ
LubaΒ FreeportΒ -Β www.lubafreeport.comΒ
Fly540 -Β www.fly540.comΒ
Swissta Holdings -Β www.swissta.comΒ
SA Independent Liner Services -Β www.saliners.comΒ
Bytes and PiecesΒ www.bytespieces.comΒ
Kwikbuild -Β www.e-kwikbuild.co.zaΒ
LonZim -Β www.lonzim.co.ukΒ
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