IFRIA TCLP SSA

pending

Ifria Cold Chain Development Company (“Company” or “Ifria”) is a newly established platform, providing end-to-end cold chain solution and transportation services, which will incorporate shares in an existing asset and pursue a mix of brownfield acquisitions and greenfield opportunities in the third-party temperature-controlled logistics (“TCL”) sector. The existing asset is a refrigerated warehouse facility providing storage and other value-added services for perishable food products in the port of Tanger Med (Morocco) (“Friopuerto” or “FPT” developed by two of Ifria’s founders).  IFC is considering an equity investment of up to US$ 9.4 million with specific use of proceeds to support Ifria’s first round of investments in Morocco and Senegal between 2022 and 2024.  These include (i) the acquisition an existing TCL facility in Casablanca (Morocco) with an initial size of 10,000 pallets position, (ii) the development of a new TCL facility in the industrial zone of Diamniadio in the vicinity of Dakar (Senegal) with an initial size of 5,000 pallets position, (iii) the development of a new TCL facility in Ouled Teima, located in the vicinity of Agadir (Morocco) with an initial proposed size of 5,000 pallets position and (iv) the construction of a new TCL facility to be located in the port of Dakar (Senegal) with an initial proposed size of 5,000 pallets position. All facilities will connect to the national grid. With these investments, Ifria is looking to provide (i) warehousing (storage, handling), (ii) transportation (long haul, distribution) and (iii) value added services (e.g., classification, labelling, packaging, picking, documentation) to a variety of customers in the modern grocery retails, hotels & restaurants, pharmaceutical industries, agriculture production and fishing companies.