The financing will support a new feed mill and broiler farm, strengthening the company’s integrated poultry production capacity and local feed supply.
Pharmaceutical companies and investors are expanding into vaccines, genetics, monitoring technologies and livestock health solutions.
The proposed funding could support agricultural production and value chains, creating opportunities to strengthen local feed ingredient supplies in a country that cultivates only a quarter of its arable land.
The proposed facility is part of a US$400 million expansion across Africa, with Olam Agri aiming to increase poultry feed production.
The proposed 60-tonne-per-day processing plant will produce soybean meal for animal feed.
Higher sales volumes and improved manufacturing efficiency lifted Freshpet’s gross margin to 44.5%.
The integrated facility will combine poultry and aquafeed production with bulk storage, adding capacity closer to livestock and aquaculture producers in southern and southeastern Nigeria.
The Japanese seafood group is strengthening its position in premium pet food through investments in regional manufacturers.
The new destination marketing office will connect regional customers with ADM’s global supply chain and portfolio of feed ingredients and animal nutrition products.
The facility can produce more than 10 million fingerlings annually, strengthening access to quality juvenile fish for aquaculture producers.