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Finance News show that Bioparques de Occidente, S.A. de C.V. (Bioparques or the company), a greenhouse tomato producer is undertaking a $12.5 million investment program to add 30 hectares of hydroponic greenhouses and a packing facility to its existing greenhouses in the state of Jalisco, Mexico. The investment includes acquisition of greenhouses and irrigation equipment, infrastructure and working capital.
The company is owned by the de la Vega family which also owns Impulsora Azucarera del Noroeste, S.A. de C.V. (Zucarmex), Mexico’s 3rd largest sugar producer representing about 10% of Mexico’s sugar production.
The project is to be implemented in one phase totaling $12.5 million. The company requested financing of up to $5 million, in the form of an A loan and a C Loan. The balance will be financed from cash generation.
Bioparques is located in the municipality of San Gabriel in the state of Jalisco. The expansion project will be located next to the existing site which is predominantly rural and about 140 km from the City of Guadalajara.