MOUNT MERU SOYCO LTD

"Building on President Clinton’s long-standing commitment to Africa, the Clinton Foundation partnered with the Hunter Foundation in 2006 to launch the Clinton Hunter Development Initiative, which is investing $100 million over 10 years to catalyze sustainable economic growth in Africa.Their mission is to improve global health, strengthen economies worldwide, promote healthier childhoods, and protect the environment by fostering partnerships among governments, businesses, nongovernmental organizations, and private citizens — leveraging their expertise, resources, and passions — to turn good intentions into measurable results.

Two-thirds of Africans rely on agriculture for survival, but many African farmers lack access to stable markets and affordable inputs that would allow them to support their families and sustain their livelihoods. In Rwanda,they have initiated two agribusiness projects that will bring increased incomes and security to farmers and their communities: Mount Meru Soyco LTD and Rwandan Farmers Coffee Company.Their programs are founded on the belief that the projects can and should include their own revenue generating capability, so that they become financially self sufficient instead of relying on the ongoing support of foreign donors.

With similar objectives in mind, Mount Meru is a strategic partner in this venture. The establishment of a large scale, fully integrated edible oil complex with a crushing capacity of 45000 tons of oil seeds per annum is on its way and should be running by March 2013. The project will create 200 direct employment jobs and will significantly influence the lives of 40,000 farmers in its fifth year of operation. The Project aims to make Rwanda a self sufficient nation in terms of its consumption of quality edible oil Ø and further reduce its dependence on imported edible oil.

MOUNT MERU PETROLEUM RWANDA LIMITED

Mount Meru Soyco Limited a PUBLIC PRIVATE PARTNERSHIP (PPP) business Venture project is a Novel; State of the Art manufacturing facility scheduled to be set up In Kayonza District of Rwanda.

The said Project is to the tune of US$ 15 Million; for edible Oil and Animal feeds Business in Kayonza District, Mukarange Sector; wherein the subject Plant is scheduled to be Operational by end of 2013.

East Africa's Leading Business House Mount Meru Group of Companies in Partnership with 4 other Stakeholders has joined hands to form this venture:

  • Mount Meru Group of Companies.
  • Clinton Hunter Development Initiative.
  • Crystal Ventures Ltd.
  • Rwanda Social Security Board.
  • District Kayonza.

Salient Features of the Project:

  • The Project Capacity is to the tune of 200 Mt per day.
  • Full Capacity is scheduled to be achieved in the Next 5 Years.
  • The Plant is scheduled to Produce edible cooking oil from soy and Sunflower seed
  • By Product of the said plant i.e soy and Sunflower cake is to be used as Animal Feeds

Objective:

The subject Investment is targeted at reducing Rwanda's reliance on Imported Oil (Currently 99% of food oil is Imported) and further to provide stimulus to the growing livestock Industry with a major byproduct of the said edible oil; i.e food cake for animal feed.

Ground Breaking Ceremony on 9th Feb 2012:

Site work has already commenced wherein a Ground Breaking Ceremony was held on 9th Feb 2012 duly attended by distinguished guest and members of the society at large. The Guest of honour for the said Ground breaking ceremony was Governor of the Eastern Province, Madam UWAMARIYA ODETTE.

Attendances for the Ground Breaking.

  • Governor of Eastern Province
  • Representative of Ministry Of Trade and Industry
  • Representative of Ministry of agriculture and Animal resources
  • Chairman of Crystal ventures
  • CEO of Crystal ventures Mr. John Bosco Birungi
  • Afrique RAMBA, Chairman of Board of directors of Mount Meru Soyco Ltd.
  • Arvind Mittal, Vice-Chairman of MMSL
  • Ewan Hunter, Board member
  • Mayor of Kayonza District.
  • Official from The Army.
  • Representatives of Banks
  • Councilors of kayonza District,
  • Representative of PSF


CEO of Mount Meru Soyco Ltd

Mr. RAMENDRA KUMAR BHARGAVA is the Chief Executive Officer:

Mr. Bhargava is the subject matter expert with more than 38 years of experience in Engineering and project Management in India, Uganda, Nigeria and Sri Lanka. His expertise ranges from the very conceptual Level to the Commercial Scale Production. In particular, to Edible oil Units such as Seed Cleaning, Mechanical extraction, Solvent Extraction, Physical Refinery, Hydrogenation plants, fractionation and plastic units.

From the Desk of CEO of Mount Meru Soyco Ltd:

Status of Project as on 9.02.2012

Bore well has been drilled successfully. Water yield is more than expected and a pump test done by contractor yielded.

Suitable Submersible pump for bore well is being procured.

Construction Load from EWSA has been taken.

A stand by water line from cooperative of district is under Installation.

Mapping and Pegging of whole Periphery of site has been done by the District.

Excavation of Boundary wall done (For fence pole) all along the Periphery.

Civil Contractor team mobilized to site partially.

Foundation drawing of Refinery, Solvent plant and boiler has been received from Respective Suppliers.

Approach Road Job has been awarded to NPD Cotraco.

Cleaning of site work done; JCB is procured and is currently at the site.

All Necessary documents i.e construction permits, With Holding TAX Exemptions certificate, VAT and TIN certificate, RDB Investment Certificate are in Order.

From the Desk of Chairman of Mount Meru Soyco Ltd and DDG of RSSB:

Mr. Afrique Ramba: "This is a Major Investment for Rwanda and most importantly, will provide a very significant opportunity for Rwandese farmers to secure a fair and equitable market for their Soy and Sunflower…. We now need farmers to look to growing in these areas to satisfy the huge demand we will have for their outputs which we are in a position to purchase in 2012.

To that end we will shortly publicize our needs for these inputs and working with MINAGRI to provide assistance where possible in ensuring farmers plant the best possible varieties for maximum yields.

To date, Mount Meru Soyco Ltd has already invested US$ 2 Mn in advance to Major equipment suppliers for the factory, already now being manufactured. The Expropriation of the Land owners bas been completed and the construction permit has been delivered to the Factory. The Layout of the Factory is ongoing and construction works will be initiated in early January with a Ground Breaking ceremony Planed for the 9th February 2012.

CSR (Corporate Social Responsibility):

The Shareholders in question have agreed that 10% of the Annual Profits shall be utilized for social Investments.

Farmer's Empowerment:

The business in question is keen to encourage farmers to start producing soy and sunflower for which they will guarantee a market. To kick start Raw Material production The Company in question awarded a Contract to the tune of US$ 1 Mn to API to grow 5000 tons of soy and sunflower in 2012 with a projected level of 50,000 tons in 2017.

Further thereof, one of the shareholders is contributing to train some 20,000 farmers in the form of technical assistance in the best methodologies for producing soy beans.

MOUNT MERU SOYCO LTD

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