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The ribbon cutting ceremony that took place on January 29^th 2018 marked the beginning of a new era in Israel’s renewable energy sector.

LR has invested through its affiliated company, Sun Clal, in this ambitious project, Israel’s first wide ranged PV solar power plant. This project is constructed by Sun Clal and EDF as part of the largest renewable energy project in the country and located on a 750,000 m² plot in the Negev desert, ensuring sustainability by producing and selling electricity to the national grid for a tariff lower than the price paid by consumers across the country.

Tailor made to Israel’s hot climate criteria this power plant will produce a new flow of electricity that will help facilitate the outreach of power as well as lower the price of electricity for Israel’s citizens. By implementing and constructing PV solar power plants, Israel will be able to provide new, clean, renewable energy to thousands of homes in the country and address the constant demand for energy within the modern society.

 

LR Group will invest over 200 million shekels in agricultural projects in Papua New Guinea.
In August the company signed an agreement to invest 154 million NIS in the development of the dairy sector in PNG, located in the south western part of the Pacific Ocean, north of Australia, and an additional 54 million NIS will be used to establish a frozen vegetables factory. For both projects LR Group received foreign trade risk insurance credit from ASHR’A, the Israel Foreign Trade Risk Insurance Company.
As a part of the transaction for the establishment of the frozen vegetables factory, LR signed an agreement with Highlands AIC, controlled by the Government of Papua New Guinea and Innovative Agro Industries. The plant will be constructed within two years in the mountainous Southern Province, and will help to reduce the dependence of Papua New Guinea on frozen vegetable imports.
Israel Discount Bank will provide trade financing through credit buyers, which will be provided as a loan to Highlands AIC totaling $12 million and guaranteed by the Government of Papua New Guinea. Funding will be provided in stages and according to completion of project milestones. The company will repay the loan over 10 years with the risk of repayment of the loan being insured by ASHR’A.
This is the second export credit deal insured by ASHR’A in five months in Papua New Guinea. The previous export transaction in August last year was also an LR Group export deal to the value of $41 million (approximately 158 million NIS) and funded by Bank Leumi through credit buyers. In the framework of the deal, LR Group signed an agreement with Dairy Central to establish a development center for dairy products in the Central District, adjacent to Port Moresby, the capital of Papua New Guinea – and is expected to include a dairy, crops and a dairy processing plant, which will help increase the production of local milk and reduce dependence on imports of dairy products to the state.
The volume of Israeli exports to Papua New Guinea over the past year amounted to $ 3.1 million. Papua New Guinea is rated by ASHR’A as credit risk rating 6 out of 7, which is considered high risk.

According to Tzahi Malah, CEO of ASHR’A, “This is the first year that ASHR’A has insured deals in Papua New Guinea deals and this is the second such transaction in only five months to the amount of approximately $ 55 million. Israel is blessed with advanced technologies and solutions in the fields of agriculture which present significant export potential in countries such as Papua New Guinea, characterized by geographic isolation and heavy dependence on imports.
Ami Lustig, CEO of LR Group, said: “The group specializes in the export of Israeli agricultural technology and know-how, adapted to the host country, and thus creating a significant change in the regional economic development of the host country. The dairy and frozen vegetable plant in Papua New Guinea will be cornerstones in the country’s food sector and will promote sustainability and reduce the countries dependence on imports.

Corinne Ganor, Head of Structured Export Finance at Israel Discount Bank
commented “in recent years the Bank has developed skills and products to provide solutions for a wide range of exports including export to developing countries, in cooperation with the credit.

LR Group, owned by Roy Ben Yami and Ami Lustig, was founded in 1985 and specializes in, among other things, the design, development and construction of projects in the areas of energy, water, agriculture, communications, infrastructure and health. The Group operates in developing countries, establishing agricultural development of large-scale projects, in cooperation with local populations and utilizing their talents, their lands and their resources optimally.
ASHR’A promotes Israeli exports through the provision of credit insurance for export transactions and investments in medium and long-term Israeli exporters. The company offers Israeli exporters diversified insurance solutions that allow minimizing risks and obtaining financing transactions medium- and long-term (1-15 years). The company provides coverage against two types of risk: political risk associated with the rule of the destination country – war, nationalization, etc. – and the commercial risks associated with the entire company carried out the transaction, such as bankruptcy.

 

Published by The Marker – online – www.themarker.com – on January 26, 2017

Following the invitation from DRC Prime Minister office to promote the national projects in Agriculture development, The New Agro-industrial and Presidential Domain of N’Sele (NOUVEAU DAIPN) presented its fresh and local products to the Congolese people between the 22^nd to the 24^th of October 2016.

Several tons of chickens, eggs and vegetables were sold during this innovative event at optimal prices.

The slogan of NOUVEAU DAIPN is : «  Manger frais, Manger Congolais! » (Eat fresh, Eat Congolese) and during these 3 days of presentations, the citizens realized the difference in quality when the produce is local and produced using the best technology and know-how. Due to the success of this exhibition and by request of the population, NOUVEAU DAIPN should restart production in the coming weeks in order to offer the best produce at the best prices, directly to the local market.

The “NOUVEAU DAIPN” is a modern farm project initiated by its Excellency the President of DRC, Joseph Kabila Kabange, together with LR GROUP. Inaugurated in May 2013, the NOUVEAU DAIPN supplies the local Kinshasa market annually with up to 15000 tons of Chicken, 25 million eggs, 1500 tons of vegetables and 1500 tons of fruits. In the near future, NOUVEAU DAIPN will also be able to offer 300 tons of fish and 1200 tons of pork to the local market. The 3000 hectares of the NOUVEAU DAIPN are now blooming with produce grown using modern agro industrial methods at international standards. Over 500 local employees were trained by LR Group in the best modern techniques. As a result the entire country enjoys the impact of this important project, a reduced import and the increase of food security in the country.

Bank Leumi will provide $37 million in financing for the venture being founded by Israel’s LR Group.

Bank Leumi will provide $37 million in financing for setting up a cow farm and dairy in Papua New Guinea. Israel’s LR Group, controlled by Ami Lustig & Roy Ben Yami, will found the venture.

The financing will be in the form of buyer’s credit, in which the financing bank actually finances the Papua New Guinea government-owned company receiving services from the LR Group.

The bank grants the financing to the venture, which is then transferred to LR. The financing is backed by a guarantee from the local government, and the Israel Foreign Trade Risks Insurance Corporation (Ashra) is also insuring the loan. The credit insurance reduces the risk in financing the deal in a developing country like Papua New Guinea.

Founded 31 years ago, the LR group manages hundreds of millions of dollars in investments. The group operates agricultural ventures, mainly in developing countries, and provides advanced technology to improve their ability to expand their volume of business. The group operates below the media radar, but Lustig spoke briefly about his business last year at the Forbes Magazine conference.

“The investments by various governments in agriculture are continually growing smaller. The World Bank is also cutting down its investments in this field. Only poorest and most unfortunate farmers are left to invest in the field, and the worldwide needs in agriculture relating to technology and investment are enormous,” Lustig said, noting that as of 2015, his company was managing ventures worth over $900 million.

Lively business, with an eye to China

The current financing deal was led by Bank Leumi’s Corporate and Commercial Division, headed by Koby Haber. After several years of continual decline in the bank’s business credit portfolio (in line with the trend at most banks), the trend recently reversed. Bank Leumi’s business credit portfolio grew by NIS 2.5 billion to NIS 44 billion in the second quarter of this year. The bank has a special unit for financing deals by Israeli exports with buyers in various countries.

Bank Leumi said that in recent years, there has been an increase in the number of queries pertaining to medium and long-term export ventures mostly up to 12 years in developing countries, especially Africa, with most of the ventures being in agriculture, water, and communications.

The bank added that in addition to Africa, there has also been considerable activity by ventures in China and that over the past 18 months, Bank Leumi has signed financing agreements totaling over NIS 1 billion with Chinese banks for export deals to China.

Published by Globes [online], Israel business news – www.globes-online.com – on September 8, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

 

 

A large crowd gathered to watch Prime Minister Peter O’Neill as he launched the Sepik Chicken Grain & Cocoa Innovation Project, to be established by the Government in cooperation with LR Group. Prime Minister Peter O’Neil was joined by the Mayor and the Deputy Governor of East Sepik Province at the ceremony.

The Sepik Chicken Grain & Cocoa Innovation Project will be managed in a Joint Venture between Kumul Consolidated Holdings and Innovative Agro Industry Ltd. (an affiliate of the Israel LR Group).

 The project is expected to produce eggs and poultry for the local market and stock feed from locally grown produce and will also include a 5,000 hectare cocoa plantation. It is expected that the produce from the project will replace imports and slash the prices of poultry products by 30%.

 The Department of Trade, Commerce & Industry has been investing significantly in the infrastructure of the Yangoru Sassia Province in order to enable large scale agricultural investments to be made in the area.

 Investments have been made in electricity, a water treatment plant and roads.

 

 

 

 

The Prime Minister of Chad, The Honorable Kalzeubet Pahimi Deubet laying the cornerstone for four farms to be established by Mori Investments  in cooperation with the LR Group. The project, initiated four years ago with the goal of delivering top produce at affordable prices, consists of three multidisciplinary farms and one dairy farm. The farms will create a new level of agricultural activities enhancing food security and providing for the wellbeing of the people.

A TV report conducted on June 2015 by EMTV “Business PNG” uncover PNG  agro sector potential as  showcased by the impressive 11 hectare fruit and vegetable farm developed by LR Group together with Innovative Agro Industry Limited.