Press Release

    Olam International announces a US$175.0 million 5-year loan from IFC

    Press release

    Olam International Limited (“Olam’’), a leading agri-business operating across the value chain in 70 countries announced today that it has signed a 5-year US$175.0 million loan agreement with IFC, a member of the World Bank Group, to finance its permanent working capital and capital expenditure requirements for four food processing facilities in Nigeria and India.

    The financing will support the Hemarus sugar mill and spice processing facilities in India, as well as the sesame hulling and Crown Flour Mill facilities in Nigeria. These facilities help generate rural employment and provide market opportunities for smallholder farmers to sell their crops, thereby improving the livelihoods of local communities in the region.

    Olam’s Group CFO, N. Muthukumar said: “This latest investment strengthens our partnership with IFC. These food processing facilities, located in India and Nigeria, help generate local employment and provide a ready buyer at market prices for farmers in the communities. Olam’s focus on inclusive growth, enabling economic prosperity and social and environmental sustainability in developing nations, is a perfect fit with IFC’s mandate.”

    IFC’s Director of Manufacturing Agribusiness and Services, Alzbeta Klein said, “We are pleased to support Olam’s strategy of enhancing value for stakeholders by investing in long- term midstream processing assets that build on the core soft commodity supply chain. Through this investment by IFC, Olam will continue to support small-holder farmers in India and Nigeria, who supply commodities to its processing facilities.”

    Download

    • Document
      OIL-SGX-IFC-175M_Press-Release_19Apr2016.pdf
    About Olam International Limited

    Olam International is a leading agri-business operating across the value chain in 70 countries, supplying various products across 16 platforms to over 16,200 customers worldwide. From a direct sourcing and processing presence in most major producing countries, Olam has built a global leadership position in many of its businesses. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 50 largest listed companies in Singapore in terms of market capitalisation and is a component stock in the S&P Agribusiness Index and the DAXglobal Agribusiness Index. Olam is the only Singapore firm to be named in the 2009, 2010 and 2012 Forbes Asia Fabulous 50, an annual list of 50 big-cap and most profitable firms in the region. It is also the first and only Singapore company to be named in the 2009 lists for the Global Top Companies for Leaders and the Top Companies for Leaders in the Asia Pacific region by Hewitt Associates, the RBL Group and Fortune.

    More information on Olam can be found at www.olamgroup.com.

    Olam is located at 9 Temasek Boulevard #11-02 Suntec Tower Two Singapore 038989,
    Telephone: +65 63394100, Facsimile: +65 63399755.

    About IFC

    IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence, to create opportunity where it’s needed most. In FY15, our lo ng-term investments in developing countries rose to nearly $18 billion, helping the private sector play an essential role in the global effort to end extreme poverty and boost shared prosperity.

    For more information, visit www.ifc.org

    Issued on behalf of Olam International Limited by:

    WATATAWA Consulting, 28 Maxwell Road #03-03 Red Dot Traffic Building Singapore 069120

    Subscribe to Our News Alerts

    Subscribe to our Olam monthly newsletter.