Business
Union Dicon Salt eyes largest Cassava farm
Union Dicon Salt Plc plans to own Nigeria’s largest cassava farm and starch processing plant as the 32-year old company consolidates strategy aimed at diversifying its operations.
The management of the company at the weekend stated that the company has signed agreement that will add 2,000 hectares to its existing 15,000 hectares of land, bringing its total available land for cultivation to 17,000 hectares.
The management stated that the combined 17,000 hectares will make the company the largest Cassava producer in Nigeria in furtherance of the company’s transformation strategy and in line with its goal of becoming a fully integrated agro industrial national champion.
The company had secured the approval of the shareholders to diversify into the agro industrial sector, with an initial concentration of cassava, and starch processing.
Read also: Nigeria may sell 40% of NNPC subsidiary
“This transaction will ensure security of feedstock supply, as Union Dicon Salt moves ahead in establishing its Cassava processing facilities in Edo & Delta State. It will also fulfill management’s commitment to become cashflow positive before the end of 2016,” the company stated,
Union Dicon also said it has finalised agreement with GEA Westphalia of Germany to build the largest industrial starch processing facility in Nigeria.
Union Dicon was until recently, the largest producer of salt in Nigeria. It has two factories; one in Lagos and another in Port Harcourt with a total installed production capacity of 700, 000 Metric tons per year.
Apart from the production of the iodized edible salt, and the processing of crude salt for wholesale, Union Dicon Salt Plc also manufactured industrial salt for detergent manufacture, animal feeds, leather tanning, oil wells, and other drilling related operations. The company was established in 1984.
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