Joint venture planning modern egg-production facility in Koitaki

The National Business

Innovative Agro Industry Limited (IAI) and PBF Agro Business Limited plan to establish a state-of-the-art egg-production facility in the proposed Koitaki Agro Food Park, in Central, under a joint-venture arrangement.
Negotiations have started as announced by PBF Agro Business Ltd board chairman John Sanday this week. PBF Agro Business Ltd chief executive Jerry Kootz Simon said: “The overall endgame in this venture is that the project itself is world class and a game-changer.
It strengthens our effort in promoting both enhanced food security and also investment into a world-class asset for our unit holders in Pacific Balanced Fund.
“The facility to be built at a cost of about K26 million will be funded by a combination of debt from local financers and equity from shareholders and will have the capacity to produce 2.83 million eggs annually.”
The venture will include:

  • Pullet facilities;
  •  Layers’ facilities with modern layers’ sheds;
  •  Packing and sorting facilities; and
  •  Stock feed processing centre.
    Simon said the project would produce its own grain feed by integrating a grain-grower scheme where nearby communities will grow corn to supply the facility.
    “This proposal should reduce between thirty to fifty per cent of stockfeed which should translate to increased margins on the top-line profit and put money back into the pockets of local farmers and good investment returns,” he said.