Project Description
Al Safi Danone for Dairy Production and Distribution LLC. (the “Company” or “ASDI”) is an establishment that was formed for the production, marketing and sales of processed dairy products in Iraq. The Company constructed a new factory with an initial production capacity of circa 59,000 tons of dairy products per annum.
The “Project” entails the construction of ASDI’s dairy plant, including the installation of multiple filling lines, and completion of other capital expenditures to make the Company fully operational. The Project will be funded by a combination of the Sponsors’ equity and IFC long-term financing. The main purpose of the Project is to partially replace the importation of processed dairy products from the Kingdom of Saudi Arabia (“KSA”) to Iraq through the Company’s local production.
ASDI will initially offer the following three dairy product categories to the Iraqi consumers:
(i) Drinkable yoghurt;
(ii) Spoonable yoghurt; and
(iii) UHT milk (by way of distribution of imports).