Transcorp exploring opportunities in Agric sector- Nnorom

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TRANSCORP LOG

The Chief Executive Officer, Transnational Corporation of Nigeria Plc, Mr. Emmanuel Nnorom, has said that they will continue to explore opportunities in the Agriculture business, in view of the success recorded in its Teragro Commodities Limited, which is now supplying Coca Cola new line of fruit juice concentrate.

Teragro Commodities processes orange, mango and pineapple concentrates for industrial markets at a processing plant in Benue State. The 26,500MT capacity Benfruit Plant first began producing concentrate for Coca-Cola in 2014.

Nnorom said this in Lagos on Wednesday when he led officials of the group on a visit to the Nigerian Stock Exchange.

According to him, recent initiatives by the group had positioned it for improved performance, which will translate into better returns for its shareholders. T

he Transcorp CEO, who beat the closing gong on the floor of the Exchange, said several initiatives were being implemented across the group subsidiaries, all aimed at ensuring that the group achieving sustained growth.

In terms of the power business, he explained that the ongoing merger of Transcorp Ugheli Power Limited and Ugheli Power Plc would not adversely affect the generation capacity.

Currently the three areas of interest contributes the following to the Transcorp group, agriculture 2 percent, power 65 percent while the Hotel business contributes 33 percent.

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