AGRO CARE PROJECTEN B.V.
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Agro Care Projecten BV will construct and operate a greenhouse near Gabes in south Tunisia for the production of 'pomo dolce' tomatoes through their joint venture company, Desert Joy SARL. Desert Joy SARL is a joint initiative of firstly, the Dutch horticultural company Kwekerij Van Antwerpen-Van Veen BV ("Agro Care") which at present cultivates tomatoes in two locations in the Netherlands on an total area of approx. 72 ha. The second partner in Desert Joy SARL is the Tunisian business-partner Mr. Zarrouk, who has been cultivating various vegetables and fruits for more than 30 years.
What is our funding objective?
The objective of the project is to set up a 7.5 hectare greenhouse complex according to high Dutch standards. Cultivating tomatoes in Tunisia has several advantages, including climatic conditions, availability of (hot) water that can be used for the heating of greenhouses and availability of appropriate energy infrastructure. The expansion in Tunisia strengthens Agro Care's international position as the demand for tomatoes, especially high quality and greater variety, is growing. The expansion in Tunisia with Desert Joy SARL provides Agro Care the opportunity to grow and deliver high quality tomatoes to their customers year round.
Why do we fund this investment?
By providing Agro Care Projecten BV with financing, FOM contributes to food supply, export of Ducht horticultural best practices and techniques and safe and standardized working environments for employees (largely women). The project is highly innovative in terms of cultivation techniques and environmental and regional development. This project is furthermore being executed in close cooperation with the Private Sector Investment Program run by Agentschap NL.
- Region
- Africa
- Country
- Tunisia
- Sector
- Agribusiness, Food & Water
- Effective date
- 3/25/2013
- End date
- 9/2/2021
- Total FMO financing
- EUR 4.60 MLN
- Funding
- Fund Emerging Markets
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B