Passiflora Limited is an 80% shareholder of Terra and 75% shareholder of AMCC. Passiflora is owned by the Chug, Dhrolia and Rai families, represented by Chaitanya Chug, Rahim Dhrolia and Jaswant Rai, respectively.
The Chug and Dhrolia Families have interests in mining/ manufacturing/ trading/ agro processing, mainly in Katanga and East Africa. The Chug and Dhrolia Families founded Terra & AMCC. Mr. Rahim Dhrolia is Managing Director of Terra and AMCC, and has been the driving force behind the Project.
The Rai Family participated as a new shareholder in November 2013. RAI Family owns the RAI Group, a Kenyan agribusiness group with sugar/forestry/manufacturing activities.
Mr. Daniel Piraino is 20% shareholder of Terra and 25% shareholder of AMCC. Mr. Piraino is a United States citizen who owns a truck-parts and aviation spare-parts importation business in the DRC.

The total project cost (capital expenditures, pre-operative expenses, working capital and contingency) is estimated at US$53 million. IFC’s proposed financing is an “A” loan of up to US$18 million.

18.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	18.0
Equity

* These investment figures are indicative

The project site of Terra is located approximately 90 km east of Lubumbashi and 80 km south of Kundelungu National Park in the vicinity of the N5 road (Route Kasenga) to the south in the surrounding area of the Lubanda Village, Kasenga territory, Haut-Katanga District in Katanga Province of DRC. The farming concession consists of two blocks: Lubanda Block (5,000 hectares) and Katofio Block (5,000 hectares).

The project site of AMCC is located on Route Kinsevere 5457, Katanga Province, Lubumbashi, Democratic Republic of Congo.

- The project will reduce import dependence of Katanga on maize flour which is a staple food in the province. Imports are costly due to high logistic costs and can be unreliable due to policies in exporting countries. The project is for the development of local maize production at competitive costs and its processing in state of the art maize flour mill.

- Local production will promote competition with imports and contribute to improved food security for local populations.

- The project will demonstrate the potential to develop primary farming and food manufacturing activities to diversify the local economy from its reliance on mining.

- The project will create jobs at various levels of skills thus offering an entry point into formal employment for a significant number of job-seekers. Today, Terra has 38 local full-time employees and approximately 100 contract labors. Terra will have about 80 local full-time employees at project completion. In addition, it will have about 500 contract labors for land clearing. AMCC today has 34 local full-time employees and approximately 100 contract labors for the construction. At the project completion, it will have about 100 local full-time employees and about 60 contract labors.

- The project is expected to improve the company''s ability to increase its CSR projects, where Terra already assists the local community with various infrastructure, including access to clean water (boreholes) and lighting (solar street lights).

- Stamp of approval and vote of confidence on agribusiness in a post-conflict country.

- Promoting environmental and social best practices, and advising the Company on sustainable community engagement.

- Long-term funding (8-year tenor with 3-year grace period) not easily available in DRC.

This investment is classified as a Category A project in accordance with IFC’s Policy on Environment and Social Sustainability. Based on information reviewed by IFC, including that contained in the client’s ESIA of 2014, the proposed project has potential significant adverse environmental and social impacts that are diverse, irreversible or unprecedented. These risks and impacts, which are both environmental and social in nature, are centered on the farming operations; the mill has a lesser E&S risk profile being primarily related to worker’s occupational health and safety, food safety and resource (electrical power) consumption and efficiency. Impacts associated with the farming operations are broader in scope and significance and include those associated with aspects of industrial farming (large scale land acquisition (through long term leasing) and preparation, and associated economic displacement of communities’ members, use of agri-chemicals and OHS related risks associated with use of heavy machinery, such as tractors and combine harvesters). Of particular importance is the Company’s commitment toward pro-active engagement with stakeholders and the establishment of relations with local communities within the context of this investment. Whereas these have seemingly been adequately addressed to date, potential risk remains; this is especially true as the farm continues to grow in size to occupy the full area of the concession.



Impacts related to PS7: Indigenous Peoples (IPs) were not identified during IFC’s review. No IPs are present in the area of the farms or where the mill is located.

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.