The objective of the Parque Agro-industrial de Moamba (PAM) agricultural project is to build a reliable and sustainable food production site in Mozambique, to meet national and international demand.

MAPUTO, Mozambique, June 21, 2019/ -- AGCO ( http://www.AGCOCorp.com ) and AT Capital SA have signed a memorandum of understanding to collaborate and work together in the deployment of the agro-industrial park PAM (Parque Agro- industrial de Moamba) in Maputo, Mozambique. The announcement was made on the sidelines of the 12th US-Africa Business Summit " Advancing a Resilient and Sustainable US-Africa Partnership ^" in Maputo. The objective of the PAM agricultural project is to build a reliable and sustainable food production site in Mozambique, to meet national and international demand. With an estimated investment of $52 million during its first phase, the project will cover an area of over nine hundred hectares in the Mauvane area of Moamba district.

The PAM project is an initiative of AT Capital SA, a private company based in Maputo, and specialized in promoting investments in strategic sectors in Mozambique, such as the agro-food industry. AGCO, a world leader in the design, manufacture and distribution of agricultural machinery and solutions, will act as technical partner. The first phase of the project includes the establishment of a production system for agricultural products, poultry and animal breeding, as well as other services in the value chain, such as slaughterhouses. The project also covers the supply of water and electricity as well as the construction of secondary roads.

“The PAM project is a priority for AGCO in Africa. It is in line with our Agri-Park initiatives, which aim to empower African farmers through the integration of cutting-edge technological solutions, agronomy and community,” explains Nuradin Osman, Vice President and Managing Director of AGCO Africa, who was part of an exceptional panel of business leaders and senior government officials in roundtables to find proven solutions to business challenges in Africa.

With the presence of more than a dozen African Heads of State and Government, this summit is the flagship conference of the Corporate Council on Africa, and brings together more than 1,000 leaders from the private and African sector, international investors, senior officials and multilateral stakeholders. The signing took place in the presence of Seward L. Jones Jr, US Assistant Secretary of Commerce, Tamarind Murrieta, Commercial Officer at the US Embassy in Mozambique, Worku Gachou, Managing Director of Overseas Private Investment Corporation (OPIC) in Africa, and senior representatives of the US government's trade and investment initiative, "Prosper Africa".

“As a partner of the 12th ^U.S. -Africa Business Summit, AGCO is committed to rolling out a new Agri-Park-like initiative in Africa, on a platform promoting trade and investment between the United States and the United States. African nations”.

"The delegation's support demonstrates AGCO's renewed commitment to developing business-friendly initiatives and policies that drive economic participation and community inclusion on the continent."

On June 20, 2019, Mr. Nuradin Osman, Vice President and Managing Director of AGCO Africa, will speak at the Agribusiness 2.0 plenary session of the US-Africa Business Summit in Maputo, Mozambique. The roundtable will explore the theme of the impact of data policies, technologies and strategies of private companies and governments, with the aim of developing a sustainable agricultural ecosystem that meets the challenges of the 21st century ⁱⁿ Africa.