Feronia Inc. Announces Completion and Commissioning of Rice Mill

The rice mill has a five tonne per hour capacity which, allowing for downtime and maintenance, can process up to 30,000 tonnes of paddy rice per annum to produce approximately 20,000 tonnes of finished rice.

26 Nov 2012 --- Feronia Inc., is pleased to announce that its wholly-owned arable processing, storage and distribution division, Kimpese Agro Industries Sprl, has achieved practical completion of its rice mill in the Bas-Congo province of the Democratic Republic of the Congo.

The rice mill has a five tonne per hour capacity which, allowing for downtime and maintenance, can process up to 30,000 tonnes of paddy rice per annum to produce approximately 20,000 tonnes of finished rice.

The Company expects to make its first commercial sales of rice by December of this year.

Bill Dry, CEO of Feronia Inc., commented: "Completing the rice mill is a major milestone in the development of Feronia's arable farming business. The current installed capacity at the mill allows us to expand our rice production substantially once we have proven commercially compelling yields.

"This is the only large-scale mill in the region and allows us to process, not only our own crops, but those grown by local small-holder farmers. We believe that providing access to agricultural processing will encourage local farmers to increase production of staple crops for the benefit of all."