AEF Continental Flowers Limited (CONTIFLORA)

completed

SUMMARY OF PROJECT INFORMATIONCountry/Project NameTanzania-Continental Flowers Limited RegionSub-Saharan AfricaSectorFood and AgribusinessProject No.007567Projected Approval DateJune 24, 1996Company NameContinental Flowers LimitedTechnical Partner and/or Major Shareholders: The sponsors are Kijenge Animal Products Limited, Mr. Mathias Ole Kisambu, and the Tanzania Venture Capital Fund. Kijenge Animal Products is owned by Mr. Andrew Mollel and Mrs. Grea Martin Mollel, both Tanzanian nationals, who have ownership interests in the animal feeds, processed meats, and poultry industries in Arusha. Project Cost including proposed IFC investment Project Cost: US$1.44 million equivalent IFC Investment: US$0.40 million (loan) Location of Project and Description of Site: The project is located on the edge of the town of Arusha, near the Kijenge River, on a 12 ha site owned by Kijenge Animal Products Ltd.Description of Company and Purpose of Project: The project will expand the operations of an existing rose flower farm, established in 1994, from 2 ha to 6.5 ha. The company is expected to export 9 million stems per year at full production to European markets.In addition to providing the project with long term financing which is limited in Tanzania, IFC’s involvement would enable a small producer to benefit from scale economies of production. Furthermore, the project is envisaged to create 120 jobs, two thirds of which is expected to be filled by women.Environmental Category and Issues: This is an environmental review category B project. Environmental, health, and safety issues include land management, water supply, pesticides handling and application, solid waste disposal, use of CFC-free refrigerants, and the provision of personal protective equipment and employee training. The ERS is expected to be available on or about May 24 from the Public Information Center.Date SPI sent to PICMay 9, 1996For additional information contact: Corporate Relations Unittelephone: (202) 473-7711facsimile: (202 676-0365Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).