Merec Expansion

completed

Merec Industries Lda. (Merec), an existing IFC client and a leading Mozambican wheat miller, is requesting a corporate facility to finance its current expansion and optimization program in Maputo, including: acquisition and installation of additional intake equipment for to increase existing wheat milling operations of 140 tons/day and 250 tons/day in Maputo; acquisition of a currently rented 1,500 m2 warehouse and distribution center in Machava; and construction of a new 3,300 m2 warehouse in also in the Machava District of Maputo; purchase of eighteen 30-ton trailers to expedite ship unloading, transport increased production volumes and provide increased logistic capacity for distribution of group products (wheat flour, maize flour, rice, and sugar); and, refinance short term working capital.