DTRT CMT Expan.

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The proposed IFC loan of up to $8 million is to support DTRT Group’s (“DTRT” or the “Company”), expansion of their Cut-Make-Trim (CMT) operations. This includes the establishment of a new 31,000 sqm upgraded garment factory area to increase capacity from 50 sewing lines to 107 sewing lines by 2026 (the “Project”). Founded in Ghana in 2013, DTRT focuses on sportswear and workwear garment production for export to the United States and European markets. Currently, DTRT’s operations include a CMT factory with 35 sewing lines and associated quality control functions located in Accra with a second production site located in Tema, which has 15 sewing lines along with raw material stores and fabric cutting functions.  The site identified for the Company’s CMT expansion is located within the Tema Free Zone and occupies 31,000 sqm.  The new manufacturing facility will be built for and leased by the Company via a build-to-suit lease agreement with a leading local property developer for a period of at least 10 years. The main equipment to be fitted as part of the expansion includes sewing machines for more than 50 production lines, along with fabric spreaders, auto-cutters, racking systems, embroidery and screen-printing machines from reputable international suppliers who will deliver, fit and provide training on equipment use.   Construction on the expanded CMT factory is expected to commence in early 2023 with the plant being commissioned by the end of 2023. For more information about DTRT facilities and production activities see http://www.dtrtapparel.com/