TANGANDA Tea Company says it has encountered a “slight” delay to the completion of the first phase of the US$500 000 macadamia nuts processing plant project due to cashflow problems.
The agro-industrial concern intends to value-add its macadamia nuts before exporting in order to hedge against volatile global prices and reduce reliance on raw commodity sales.
“The efforts are well underway. Because of the restraints of last year, we have been slightly delayed on the project…,” Tanganda’s chief executive Tim Fennell told The Financial Gazette.