Key Transaction Details

On September 9, 2026, NHC Foods (Liberia) Limited (subsidiary/group entity) entered into binding Heads of Terms (HOT) with Liberia Special Economic Zone Development Company (LSEZDC) for sub-lease and development of an industrial plot within Monrovia Industrial Free Zone (Starbase), Bushrod Island, Monrovia, Republic of Liberia.

Project Specifications

  • Location: Monrovia Industrial Free Zone (Starbase), Bushrod Island, Monrovia, Liberia
  • Plot Size: Approximately 7,580 square metres (subject to final cadastral and topographical survey)
  • Built-up Area: Approximately 1,590 square metres
  • Product Focus: Fruit juices and allied food and beverage products

Strategic Context

This represents NHC Foods' first food processing/manufacturing footprint in Liberia and forms part of the company's strategy to establish presence in international markets, particularly Africa (population approximately 1.5 billion). Liberia was selected as a strategic entry point to West Africa due to its location, access to Atlantic shipping routes, and participation in the Economic Community of West African States (ECOWAS).

Special Economic Zone Benefits

The facility will be located within an Industrial and Manufacturing Special Economic Zone operating under Free Zone regime. NHC Foods (Liberia) Limited may become eligible for:

  • Fiscal and non-fiscal incentives under Liberia's SEZ framework
  • Customs-bonded treatment
  • Applicable tax incentives
  • Access to common infrastructure (road connectivity, power, water, drainage, security, telecommunications)
  • Single Window Clearance mechanism for governmental permits and approvals

Current Project Status

The project is at development and pre-implementation stage. NHC Foods (Liberia) Limited has been granted site access for pre-development activities including:

  • Environmental and Social Impact Assessment (ESIA)
  • Geotechnical investigations and soil testing
  • Architectural and engineering studies
  • Master planning
  • Topographical and cadastral surveys
  • Utility assessments
  • Other required studies and approvals

The HOT provides exclusivity over the proposed plot during its subsistence. Parties contemplate execution of definitive Sub-Lease Agreement within 90 days, subject to completion of survey, technical review, documentation, and commercial finalisation.

Funding and Implementation

The project will be funded through resources earmarked/raised for international market development and/or permissible internal accruals, financing arrangements, or other funding sources as determined by the Board. Final project cost, installed production capacity, implementation schedule, and commencement of commercial production will be determined upon completion of detailed feasibility, engineering, regulatory, and project-development processes.

Strategic Significance

The Liberia facility is expected to serve as an initial platform for long-term expansion into Africa, developing an "India-to-Africa" food and agri-products platform combining existing sourcing capabilities with local processing infrastructure.