Forafric to boost crushing capacity expansion with new operating facility lease

Forafric Globa announced it has entered into a 10-year renewable contract to lease and operate an existing milling facility located in the Meknes-Fes region of Morocco. This marks a significant milestone in the expansion of the Company’s milling capabilities and positions Forafric for continued growth. This expansion is expected to increase the Company’s milling capacity by approximately 470 tons of soft wheat and 130 tons of durum per day for an aggregate increase in total production of approximately 600 tons per day. The contract is subject to regulatory approvals and other customary closing conditions. The Company expects to transition operations to Forafric in the third quarter of 2024.