Valency International Inaugurates One of the World’s Largest Cashew Processing Plants in Ivory Coast.
A proud milestone for Valency International as we celebrate the inauguration of one of the world’s largest cashew processing plants. We were honoured to have His Excellency, Minister for Industry Dr. Souleymane Diarrassouba, inaugurate the plant on behalf of His Excellency Prime Minister Mr. Robert Beugré Mambé.
This plant was brought to life with an investment of USD 40 million partially co-funded with debt financing from Norfund and Finnfund with 45,000 mts of raw cashews annually, revolutionizing the industry in Ivory Coast.
Mr. PK Jain, Chairman of Valency International, added, "We’re committed to building a brighter future for Côte d’Ivoire. This project will create over 2,000 jobs, 80% of which will be held by women. We believe empowering women and supporting their children at the same time is the most powerful way to uplift a community."
Sumit Jain, CEO of Valency International, shared, "By processing cashews locally, we aim to elevate the country’s position from exporting 'Produce of Ivory Coast' to delivering 'Product of Ivory Coast.' This ensures prosperity for the people who grow and process these cashews."
We have planned to further invest into bioproducts plant to produce biochar and biofuels, ensuring 100% product optimization by converting agricultural waste into renewable energy and eco-friendly materials.
Our financial partners, including Norfund, Finnfund, BII, ABSA, IFC and regional financial institutions, have also been vital in bringing this vision to life. We are thankful to the Government of Côte d'Ivoire, especially Minister of Commerce and Industry, Minister of Agriculture, CEO of CEPECI and Prime Minister office, which has played a pivotal role in making this project a reality. The government, by extending various incentive scheme for local cashew processors, has created a highly conducive business environment for local and international investors.
