Cooperativa Nacional de Productores de Leche (“Conaprole”) is Uruguay’s leading dairy producer and one of the lowest cost producers in the world. Conaprole has eight production plants that produce a wide range of dairy products including liquid milk, milk powder, yogurt, cheese, butter, ice cream, and milk by-products. Conaprole exports 55% of production, mainly in the form of milk powder.

The Project entails capacity expansion at two production plants. At the Villa Rodriguez plant (“VR” or “Plant 8”), the existing powdered milk capacity of one 6 tons/hour spray drier with associated evaporator will be progressively expanded by the addition of a second evaporator, then a second spray drier and finally a third evaporator, to develop capacity to produce 12 tons /hour of whole or skim milk powder, with supporting investment in milk reception and processing and in utility systems. At the Montevideo plant (“CIM”), the Project will expand production capacity for ice cream, desserts and yoghurt production, again with supporting investment in factory infrastructure. The Project will increase raw milk reception from farmers by about one third.