By Iheanyi Nwachukwu
Copyright businessday
The board of directors of Julius Berger has approved opportunity to lease out the company’s cashew nut facilities to Eko Organic Food Industries Limited.
Though the lease value wasn’t disclosed, but Julius Berger said in its September 24 note that it had on September 23, 2020 informed the market of its Board’s approval to explore a diversification opportunity in Agro-processing.
“Consequent upon the strategy of Julius Berger, to be more thematic to its core business by strengthening its capacity in Nigeria and exploring opportunities regionally and globally, the Board of Julius Berger, at its
meeting of September 24, 2025, took the decision to lease out its cashew processing facilities, upon mutually agreed terms, to Eko Organic Food Industries Limited, whose core business would ensure the continued relevance of Julius Berger and its strategic intent to take value from opportunities in Agro-processing,” the construction giant told the investing public.
It further noted that the goal of the Board of Directors and the Executive Management of Julius Berger remains to deliver on the strategy of maintaining and strengthening the Company’s competitive advantages in the Construction sector, and any other sector it ventures into.
