Manorama Industries Limited enters into MOU for new factory in Burkina Faso

Manorama Industries Limited (BSE: 541974; NSE: MANORAMA), a global pioneer in the manufacturing of Cocoa Butter Equivalent (CBE), specialty fats & butters and exotic products, has deepened its international presence in Africa and Latin America.

The company has signed a Memorandum of Understanding (MOU) with the National Office for Major Projects of Burkina Faso (The Government of Burkina Faso) to establish a new factory focused on the processing plants of Shea Nuts & Mango Kernels. The business will be conducted through the Company's new wholly owned subsidiary, proposed name: Manorama Burkina Industries SA, Burkina Faso or any other name as approved by the authorities. This partnership aligns with Burkina Faso's industrialization policy and promotes sustainable economic development, leveraging Manorama's rich two-decade expertise in manufacturing specialty fats & butters and exotic products for Fortune 500 companies in chocolate, confectionery and cosmetic industry.

In addition, Manorama Latin America LTDA, a wholly owned subsidiary of Manorama Industries Limited, has entered into a strategic partnership with DEKEL Agroindthtria (Dekel) to produce Cocoa Butter Equivalent (CBE) and specialty fats in Brazil. This collaboration marks Manorama as the first global CBE producer to manufacture in Brazil, with production set to begin in November 2025 tentatively. Manorama will supply the specialty raw materials necessary for CBE production and will benefit from access to Dekel's state-of-the-art facility located in Itapolis, So Paulo, Brazil.

Commenting on the key developments, Chairman and Managing Director of Manorama Industries, Mr. Ashish Saraf said: "Manorama has significantly enhanced its international presence in Africa and Latin America. The Memorandum of Understanding with the Government of Burkina Faso supports our plans for backward integration by establishing a processing factory in Africa. This initiative is designed to improve our overall operations in Africa, leading to greater operational efficiencies and better supply chain management.

Additionally, our strategic partnership with Dekel for manufacturing Cocoa Butter Equivalent (CBE), a crucial ingredient for the chocolate industry, is set to begin in November 2025 tentatively. This makes us the first global CBE producer in Brazil. It underscores our growth ambitions to introduce and supply CBE and specialty fats to Brazil and the broader Latin American chocolate market."

Source : Equity Bulls

Keywords

ManoramaIndustries MOU NewFactory BurkinaFaso