Summary
Our parent, the CARANA Corporation (www.carana.com/), is an American company that designs and implements economic development strategies on behalf of governments, businesses, and international donors. It has worked in Guyana over the last decade and conducted over $6 million in research and development in agriculture and aquaculture production. Guyana’s untapped potential and CARANA’s proven ability to address market and investment failures globally led them to realise what a unique opportunity they had to create a leading agribusiness in Guyana.
To this end, CARANA decided to establish and seed fund an agriculture production and marketing company that would take a holistic approach to primary production. That is us…Carana Agribusiness. We are a team of experienced agriculture and business development specialists seeking investment to continue to develop our agriculture and aquaculture assets in Guyana.
When we launched in October 2014, we immediately began work on building our aquaculture operation. Construction of our agriculture operation commenced in November 2014. By the end of 2014, we had completed the initial 30 acre aquaculture farm and stocked it with 40,000 Tambaqui fingerlings. These fish will mature and be ready for market by July 2015, at which time we expect them to achieve revenues of approximately US$ 250,000.
We have also prepared agriculture land and infrastructure including the drip irrigation system which is being installed during March 2015. Inputs have arrived ready for planting peppers in the first week of April 2015. These peppers will be ready for market by July 2015, and we expect them to achieve revenues of around US$400,000. We also began additional pond construction and land preparation during February 2015. In reaching this level of development so quickly, we are set to achieve revenues of around $650,000 by the middle of this year and clearly demonstrate our ability to successfully execute our development plans in a professional and sustainable way.
Building upon this first phase, the second phase will see us expand our land under management to 500 acres. Revenue is projected to grow from $650,000 in 2015 to over $8 million by 2018. From this 500 acre base, we envision later equity or debt raises that will see us scale operations out to over 6,000 acres of production as we move from smaller market orders to an industry wide approach.