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Join on Telegram Rabat – Groupe Berkem, a company specializing in the bio-based chemistry industry, has announced the signing of a memorandum of understanding for the creation of a joint venture with Morocco’s Groupe Dolidol, a pan-African company in the polyurethane foam, bedding, and industrial joinery sectors.
The partnership aims to establish an alkyd resin production and sales site in the Ivory Coast, serving both African and European markets, according to a statement from the company cited by Businesswire.
The joint venture will involve a total investment of €5 million, with 49% financed by Groupe Berkem and 51% by Groupe Dolidol.
The alkyd resin production plant will be the first of its kind in West Africa and is set to commence operations in the first quarter of 2024.
The facility, covering an area of 3,500 square meters, will have an initial production capacity of 5,000 tons per year.
The primary purpose of the collaboration is to expand Groupe Berkem’s presence on the African continent, capitalizing on the region’s significant growth potential.
The joint venture will enable the production of alkyd resin in the Ivory Coast, with the products being exported to neighboring African countries such as Ghana, Togo, Benin, Burkina Faso, Mali, Guinea, Niger, Liberia, and several European countries.
Jaafar Harti, Managing Director of Groupe Dolidol and CEO of AFRICORP Consortium, expressed his enthusiasm for the project, stating: “This project marks the start of a collaboration with a renowned European partner, a leader in the plant-based chemistry sector.”
“Thanks to the know-how of Groupe Dolidol and Groupe Berkem, this partnership will enable alkyd resin to be produced in the Ivory Coast and to export these products to neighboring African countries as well as to other European countries,” Harti said.
On his part, Olivier Fahy, Chairman and CEO of Groupe Berkem, highlighted the importance of the West African markets and the company’s commitment to providing local support.
“The countries of West Africa are incredibly dynamic, and our customers want local support to offer products whose quality is increasingly important in these fast-growing markets,” Fahy said.
“Internationalization also means sharing know-how, and we are delighted to be contributing our expertise and skills in the production and synthesis of alkyd resins to this joint venture,” he added.
Read Also: Dolidol to Bolster its Operations in Nigeria
