Agrofusion CL

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 The proposed investment is to support Agrofusion Group (the “company”), by providing a long-term corporate loan to finance the company’s 2018-2019 expansion and debt refinancing program (the “project”). This would be IFC’s third project with the company, an existing IFC client since 2012 with satisfactory environmental and social performance.Established in 2007, Agrofusion is the largest vertically integrated tomato paste producer in Ukraine. The company works with the global Fast-Moving Consumer Goods (FMCG) companies; it exports 70% of its production to 35 countries. The company’s operational assets include: (i) three tomato paste plants with total processing capacity of approximately 750,000 metric tons of tomatoes per season; (ii) two seedling green-houses; and (iii) approximately 25,000 hectares of irrigated leased land in Mykolayiv and Kherson regions of Ukraine. The implementation of the project will allow the company to expand its product portfolio and increase export volumes.The company reached full production capacity in 2016 of 64,800 tons of tomato paste and in 2017 expanded its capacity to 79,443 tons of paste. Agrofusion’s processing facilities are located in southern Ukraine; Farm Enterprise “Organic systems” in Mykolayiv (Northern factory (2009) and Eastern factory (2017) and Farm Enterprise “Integrated Agrosystems” in Kherson (Southern Factory (2007) regions, which have traditionally been tomato growing lands.  The total project cost is estimated at US$30 million. The proposed IFC investment is a US$17 million A Loan for IFC’s own account.