Merec Grp Expn

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Merec Industries Ltd. (“Merec” or “the Company”), an existing IFC client and a leading Mozambican grain miller, is seeking financing for: i) a 250 tons/day greenfield flour mill to be constructed in Nacala, in Mozambique’s northern region; and ii) a grain handling terminal with a 20,000 ton silo capacity to be constructed on the premises of the port of Maputo under the jurisdiction of the Port Authorities. IFC’s previous investments have supported the upgrading and expansion of Merec’s milling, warehousing and distribution capacity at its existing Machava and Socimol plants in Maputo. Merec is a member of the Charania Group of companies (charaniagroup.com/group/index.html), a major East African corporation established in 1995.