SIPRA CI

completed

Project descriptionLa Societe Ivoirienne de Productions Animales (“SIPRA or the “Company”) was created in 1976 and is the largest poultry operator in Cote d’Ivoire and in Francophone West Africa region. SIPRA has vertically integrated operations established in three key business entities, namely 1) Ivoire Poussins, which encompass seven (7) parent stock farms and hatchery for production of one day-old chicks, with a production capacity of 18 million chicks per year, and commercial farming facilities (“intégration”) composed of four (4) egg laying farms, and 34 broiler chickens farms, including 9 under SIPRA’s management and 25 contracted farms with a production of 5.5 million birds/year; 2) Ivograin, a feed mill unit with installed production capacity of 100,000 tons/year located in Yopougon. Ivograin also sells its products through a network of 22 retail outlets throughout Ivory Coast; and, 3) CoqIvoire, a slaughtering unit with a processing capacity of 2,000 chicken/hour and 43 retailing outlets for fresh chicken and eggs. Ivograin and CoqIvoire’s activities also encompass logistical/distribution activities, including third-party contracted fleet of 75 trucks for corn sourcing and feed mills delivery and SIPRA’s own fleet of 6 one day-old chick delivery trucks, 6 livebird delivery trucks, 15 “CoqIvoire” delivery (refrigerated) trucks respectively. The proposed investment from IFC’s is up to €7M and will fund SIPRA’s €22M expansion project (the “Project”) over the next 3 years. The Project includes: (i) expand broiler production to 8 million birds/year; (ii) expand egg production to 70 million eggs p.a. (from current 20 million eggs); (iii) increase poultry & egg retail outlets to 80 (from current 43); (iv) debottlenecking of feed mill to increase capacity; and (v) others (working capital, etc.).