Manorama Industries accord with Burkina Faso govt for factory

Manorama Industries accord with Burkina Faso govt for factory

Manorama Industries Ltd. (MANORAMA) has announced a significant expansion of its operations with the execution of a Memorandum of Understanding (MoU) with the National Office for Major Projects of Burkina Faso. The agreement aims to establish a new factory for processing Shea Nuts and Mango Kernels in Burkina Faso, aligning with the country's industrialization policy [1].

The venture, conducted through a wholly-owned subsidiary, leverages Manorama's two-decade expertise in the specialty fats and butters industry. The company is recognized for its manufacturing capabilities and is certified with various international standards, including FSSC 22000, ISO, and Fairtrade, as well as being a Government of India Recognized Star Export House [1].

Manorama Industries operates primarily in the chocolate, confectionery, and cosmetic sectors, providing exotic products to Fortune 500 companies. The company's average trading volume is 14,790 shares, with a current market capitalization of 81.82 billion INR [1].

The establishment of the new factory in Burkina Faso underscores Manorama's commitment to sustainable economic development and its strategic expansion into new markets. This move is expected to enhance the company's production capacity and diversify its revenue streams.

References:
[1] https://www.tipranks.com/news/company-announcements/manorama-industries-expands-operations-with-new-burkina-faso-factory