AEF Tacks Farms Limited

completed

Summary Of Project Information (SPI)Project NameGhana-Tacks Farm Limited    RegionSub-Saharan AfricaSectorProject No007617Projected Board DateJune 16, 1996Company NameTacks Farm Limited (TFL)Technical Partner and/or Major Shareholders The company is equally owned by Mr. S. N. and Mrs. G. Tackie. Mr. Tackie is a chemical engineer by profession and recently retired from his position as Managing Director of L’Air Liquide Ghana Limited, the Ghanaian subsidiary of the French multinational company. Mr. Tackie will devote himself to the management of the farm and will serve as Chief Executive Officer of TFL and Mrs. Tackie will serve as Managing Director.Project Cost Including proposed IFC investment The total project cost is estimated at US$729,000. IFC has been requested to provide a loan of US$209,000.Location of project and Description of site The farms are located in the Eastern region of Ghana and are approximately an hour drive apart. Both farms are leasehold properties with over forty years remaining. Total farming area to date is 156 hectares.Description of Company and Purpose of Project The company was established in Accra in May, 1984 and concentrates on the production of fruits and vegetables for the European market, namely mangoes, papayas, Asian vegetables and beans for export. The purpose of the project is to upgrade and expand the irrigation system, construct cold and dry storage facilities and acquire farm vehicles. The project will enable TFL to meet international supermarkets’ fruit and vegetable standards.Environmental Category and Issues This is an environmental review category B project. Environmental, health and safety issues associated with this project include pesticide handling and application, Integrated Pest Management, water supply, waste disposal, hygiene and housekeeping, CFCs and employee safety and training. The company has submitted information addressing all of the issues listed above and has committed to ensure that all safety issues and environmental programs are carried out in accordance with local government requirements and World Bank guidelines. The is from the Public Information Center. Date SPI sent to PIC May 16, 1996For Additional Information contact: Corporate Relations Unit -telephone: (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).