New $176M project to be carried out with TAHAL partner ZRB
Or Yehuda, Israel – August 20, 2017: TAHAL Group, a leading global provider of sustainable infrastructure development projects in emerging markets, announced today that it has reached an agreement with the Government of Zambia to carry out a large integrated agriculture project in Zambia. The new $176M project is to be implemented in equal partnership with ZRB Consulting Finance & Development Ltd., a TAHAL partner for infrastructure projects in Zambia and Angola.
The agreement was signed at a festive event on August 18th attended by the Zambian Minister of Agriculture, the Hon. Dora Siliya, as well as by other Zambian ministers and senior officials. The Zambia project follows TAHAL and ZRB’s successful implementation of a similar agricultural community in Angola. TAHAL and ZRB recently have begun the operation and management (O&M) stage of the Angola project for a period of seven years.
“Unlike other agricultural projects in Africa, the agricultural community model that we initially implemented with great success in Angola focuses on the specific needs and welfare of the local population,” said Saar Bracha, CEO & President of TAHAL Group. “Our agreement with the Zambian government is a vote of confidence in our ability to design and implement large integrated agriculture projects, and we believe additional African countries could benefit from our unique model.”
The integrated agriculture and water project entails the design and establishment of a farming community on 5,750 hectares, including hundreds of family farms and commercial farms for sale. The project will include: electricity and water infrastructure; roads and drainage; irrigation systems; agricultural equipment; greenhouses and net houses; chicken houses for egg production, a logistics, packing and marketing center; refrigeration centers for agricultural produce; labs; and a center for professional training. In addition, TAHAL and ZRB will construct family homes and community buildings for education, health, social services and more.
Scheduled to be completed in three years, implementation of the new project is dependent on the closing of project financing by the Zambian government, which is expected to occur in the coming months. Once financing is finalized, TAHAL Group’s backlog of approved projects will reach a record $780M.