By Yakubu LAAH InvestAdvocate
Lagos INVESTADVOCATE)-Nigeria’s top conglomerate, Transnational Corporation of Nigeria Plc (Transcorp) said on Tuesday its agribusiness subsidiary Teragro Commodities Limited has invested in juice concentrates business.
“Terargro has acquired and installed extraction cup technology, instantly enabling the company to deliver superior quality juice concentrates that meet international quality standards,” a statement from Transcorp affirmed.
“The extraction cup revolutionises our production process and ensures that concentrates we produce will pass even the most stringent international standards,” Teragro CEO Dupe Olusola said. “This investment elevates us to the top of local concentrate producers and ensures that Teragro is able to compete with any international concentrate producer from Spain, Brazil, the United States and more.”
Transcorp says Teragro processes orange and pineapple concentrates, mango purées and orange-peel oil for industrial markets in a 26,500mn TPA capacity plant called Teragro Benfruit Plant in Benue State.
Nigeria’s top conglomerate said helping Teragro products meet international quality standards through tests conducted in International labs in Brussels and France, the new technology increases the capacity of Benfruit Plant.
Emmanuel Nnorom, chief executive officer (CEO) of Transcorp highlighted the importance of this investment for Teragro. “We have received positive commendation from our biggest customers. The acquisition represents a clear commitment to meeting their requirements and ensuring that the country’s largest beverage manufacturers have local suppliers with the highest quality products on offer,” Nnorom affirmed.
Teragro says it’s committed to alleviating poverty, creating employment and economic growth through investment in agriculture.
The juice concentrate company disclosed it recently signed a memorandum of understanding (MoU) with the Benue State government to lease land to establish citrus farms with improved varieties of citrus fruits and to diversify crops.
Also, the company says it continues to invest in capacity building for farmers as part of its Africapitalist commitment to doing well for investors, while doing good for the community.
Teragro is certified by the National Agency for Food and Drugs Administration (NAFDAC) and the Global Food Safety Initiative (GFSI) with ISO 9001:2008 and FSSC 22000:2005.
