Nanchang Anxin Oils Fats and Feedstuff (Group) Company Ltd

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MIGA issued separate guarantees to Andri & Cie, S.A., totaling $12.6 million for its equity investment, shareholder loan, and loan guaranties for the establishment of a joint venture agribusiness enterprise. The local joint venture partner, Jiangxi Xinjian Foreign Economic Relations and Trade Corporation of China, will own 31 percent of the project. Andri's investment includes $3.9million in cash and equipment and about $800,000 in loans to the project. Andri also has issued loan guaranties totaling $7.6 million to Sociiti Ginirale to cover the bank's two loans to the project. MIGA guarantees cover Andri's equity in the project against the risks of currency transfer, expropriation, and war and civil disturbance and the loans and loan guaranties against currency transfer and expropriation risks. The project enterprise, Nanchang Anxin Oils Fats and Feed stuff (Group) Company, Ltd., will crush oilseeds, refine vegetable oils, and market feed grains and oil by-products in Jiangxi Province. Nanchang will produce up to 90,000 tons of processed oilseeds, 30,000 tons of vegetable oil, and 1,500 tons of animal feed annually. The enterprise also will research and develop new seed-related products. The project will have a positive developmental impact by alleviating the chronic shortage of oils and related products in the province. Moreover, refined vegetable oil will be produced locally for the first time. All project inputs and production equipment will be sourced in the country.

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