Sikko Industries signs 3-year MOU to supply organic fertilizer to Uganda OWC
SIKKO · price
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Sikko Industries has signed a 3-year MOU with Operation Wealth Creation (OWC), a Presidential initiative of the Government of Uganda, to supply Organic Fertilizer Granules (Bio NPK). Year 1 is firm at 50,000 MT at USD 138.96 per MT, valued at about USD 6.95 million. Years 2 and 3 are indicative, scaling to 55,000 MT and 60,500 MT, taking 3-year potential to 1,65,500 MT worth about USD 23 million. Payment terms are 50 percent advance and 50 percent by irrevocable letter of credit. The order is international and not a related party transaction.
Opens a new export market with multi-year revenue visibility, though only Year 1 volumes and pricing are firm.