MAL - PRAN
Summary of Investment Information
MYMENSINGH AGRO LIMITED
Date SPI Disclosed
May 22, 2020
Projected Board Date
Jun 21, 2020
Regional Industry - MAS Asia & Pac
Agribusiness and Forestry
Fruits and Vegetables
The group of companies known as PRAN Group (“PRAN” or the “Group”) was established in 1981 and is the leading branded food and beverage group and the largest agro-processor in Bangladesh. The Group is a well-known household brand in Bangladesh, and produces more than 400 food products in at least 10 major categories including juices and drinks, snacks, dairy, spices, confectionary and frozen foods. PRAN exports to 134 countries around the world.
The project is to support long-term working capital financing as well as financing of additional capital expenditures for wafer and aseptic lines, as well as maintenance capital expenditures at PRAN entity Mymensingh Agro Limited (“MAL” or the “Company”) for a total project cost of approximately US$56.8 million (the “Project”).
Associated Advisory Engagement
IFC Food Safety Advisory: There is currently an on-going IFC Advisory engagement with PRAN Group on food safety. Advisory engagement includes (i) strengthening PRAN’s extension services / staff capacity on good agricultural practice and integrated pest management, (ii) helping establish farmers’ training program, (iii) undertaking a good agricultural practice and food safety assessment for 5,000 tomato, mango, turmeric, and cassava farmers, and (iv) developing PRAN’s own Assurance Scheme (PAS) which leads to reduced food safety risk.
IFC Gender Advisory: There is also an on-going IFC Advisory engagement involving a preliminary assessment on gender equality in the workplace to advance women’s employment at PRAN entities PAL and NAL.
Location of Project and Description of Site
Malgaon, Kailgonj, Gazipur, Bangladesh.
Hyperlinks to Related Project Dossiers: