The Company is planning 17 ha of expansion on the already acquired land plot – on top of the existing production of 17 hectares with total project cost of 26M USD. The Company would also like to fully or partially refinance the existing loans of USD 33 mln to local banks to improve the cash flow and P&L profile of the Company.The expansion will allow the company to increase export volumes to traditional export markets using the economies of scale and expand to new markets in a longer term. The excess demand from current o‐takers gives the opportunity to increase the exports without any additional sales efforts. The high quality products are highly demanded in different regions and new partners are eager to start cooperation with the Company. The expansion will be at a lower cost than the construction of the previous hectares of the greenhouse. Given the existing service area and other amenities the expansion project will take advantage of the economies of scale.
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