NHC Foods is planning to establish a manufacturing and processing facility in Liberia, West Africa, to produce fruit juices and other food and beverage products.
The company has entered into a binding Heads of Terms (HOT) agreement with Liberia Special Economic Zone Development Company for the proposed sub-lease and development of the facility in Monrovia.
The facility will be located within the Monrovia Industrial Free Zone (Starbase) on Bushrod Island and will cover an industrial plot of approximately 7,580 sq. metres.
NHC Foods said the move is aimed at bringing its processing operations closer to consumers and strengthening its presence in the local market. The company expects an on-ground manufacturing facility to provide greater control over product development, quality and supply, while allowing it to respond more quickly to local market needs.
NHC Foods Managing Director Satyam Shirishchandra Joshi said the initiative will deepen the company’s food business and complement its existing strengths in agricultural commodities while creating new opportunities for value addition.
The project will be funded through earmarked resources, internal accruals and other permissible financing arrangements. However, the final project cost, production capacity and implementation timeline will be decided after detailed feasibility and development studies, the company said.