Through our wholly-owned subsidiary, Agribopo, Inc., the Company is focused on establishing one of the first commercial castor growing and milling operations in the U.S. upon receipt of requisite funding projected at $8.0 to $10.0 million. This will include a seed to oil milling facility coupled with a 3,000 acre leased plantation initially. The project expects to generate ROI of 30% with annual revenues from $7-10 million.
The company is also in the testing stage of an international growing project in South America based on castor and other row crops.
Castor oil is an in demand commodity produced mainly in India and used in many products including: Polyurethane, lubricants, food and food preservatives, traditional and holistic medicines. Industrial applications in transportation, cosmetics, pharmaceutical, polymer additives, and manufacturing industries as castor oil derivatives which serve as the raw material for the production of a number of chemicals.
Castor oil and its derivatives are 100% imported by the USA specialty chemicals market (approximately 65,000 to 100,000 tons annually). This will be one of the first commercial supplies available grown in the U.S.