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Verde’s new processing plant on budget and on schedule

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World Fertilizer,

Verde AgriTech Plc has announced that on site plant assembly has now commenced.

The company is currently executing a turnkey agreement for the construction of its processing plant in in São Gotardo, in Minas Gerais, Brazil. The plant is projected to produce 45 tph of Super Greensand®, and expected to cost US$500 000.

In the statement, Verde claims that it has concluded all site preparations and structural foundations. The majority of the plant equipment has been delivered to site and assembly has commenced. The company claims that it is on schedule and on budget. It expects the project to be fully operational in early 3Q18.

In November last year, Verde announced the results of its pre-feasibility study (PFS). The study shows a post-tax net present value discounted at 8% of US$1.98 billion and internal rate of return of 290%.

Super Greensand is a multi-nutrient natural fertilizer developed to improve the soil and boost plant nourishment. It contains 68 minerals and trace elements, including potassium, iron, magnesium and manganese. It also increases the capacity of the soil to retain water and nutrients.

The President and CEO of Verde, Cristiano Veloso, said: “The markets in Brazil and US have warmly welcomed our Super Greensand, as we expected given the long series of agronomic tests conducted on the product. Now we are working hard to ensure that we can increase production as soon as possible. Our first wholly owned plant will ensure greater supplies at a lower per ton cost, so we are excited to see that work is progressing along the tight schedule we established.”

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