Nigerian F&B processing firm applies for $25m loan to modernize plant

The project includes modernizing equipment for bouillon cube seasoning; extending its dairy product portfolio, and automation of its powdered milk, choco and coffee production lines.

Cowbell, Loya & Miksi powdered milk

The announcement was made by IFC (International Finance Corporation) this month, after it visited the facility at Isolo Industrial Estate, in Lagos, in September 2015.

“The Promasidor factory sits on a 6.61 hectare plot of land and consists of the main production area; raw materials warehouse; storage facilities; an administrative block; finished goods warehouse and loading bay; a truck parking area; a generator house; vehicle repair workshop; staff amenities; and an effluent treatment plant (ETP); all occupying approximately 60% of the site​,” it said in a review.

The modernization project will not involve any expansion of the building infrastructure.
“Promasidor currently operates a primarily dry production process; the manufacturing process consists of mixing/blending of raw materials, filling and packaging​,” it added.

“The company runs four factory units within its premises; each factory houses a different product and all factories are operated concurrently​.

“The four factories are; ‘Onga’, which produces Onga food seasoning; ‘Choco’, which produces Cowbell powdered chocolate milk; a milk factory, which produces Cowbell, Loya and Miksi powdered milk; and a tea factory, which produces Top Tea tea bags​.”

Infant Formula

All products are sourced or supplied in bulk, except for its Infant Formula, which is imported as a final product and processed and packed in different size configurations, except for the seasoning products which are manufactured from local and imported raw materials.

Milk powder is imported from European/New Zealand suppliers and dried tea leaves are imported from Kenya. Select materials for seasoning and flavored milk are sourced locally.

IFC’s review included a site visit; desktop review of available environmental policies and procedures and assessment reports including the environmental study, environmental audit reports and environmental procedures for the existing operations.

IFC also met key officers of Promasidor; the HSE Manager, HR Manager, Legal and Compliance Manager and Food Safety and Quality Control Officers.

The Environmental and Social Review Summary (ESRS) is prepared and distributed in advance of the IFC Board of Directors' consideration of the proposed transaction.

Source:​ IFC International Finance Corporation
Date: ​March 2, 2016
Project number:​ 37143
Country:​ Nigeria
Region:​ Sub-Saharan Africa
Sector:​ F-AI-Other Food
Department:​ Gbl Ind, Manufact, Agribus & Services
Company name:​ Promasidor Nigeria Ltd
Environmental category:​ B
Status:​ Pend PDS-IR