Olam Signs Five-Year Loan To Help Four Food Processing Facilities

Friday, April 22nd, 2016 | 152 Views

The US$175 million loan agreement with IFC, a member from the World Bank Group, will finance Singapore-based Olam International’s four food processing facilities in Nigeria and India.

These include their Hemarus sugar mill and spice processing facilities in India, and a sesame hulling and Crown Flour Mill facilities in Nigeria. These facilities help to support the local economy and communities by providing employment and opportunities for smallholder farmers to sell their crops.

This is in line with the company’s focus on inclusive growth, enabling economic prosperity and social and environmental sustainability in developing nations, said N. Muthukumar, Olam’s Group chief financial officer.