This investment plan describes the investment, cost and benefits of setting up a packaged Plantain Flour factory. The factory will produce branded wholesome 1kg plantain flour and sold in the Nigerian market.
The factory can be situated in any part of Nigeria, but preferably closer to the source of raw materials
This summary below highlights production, quality and standard, management, marketing, and the financial requirement for the establishment and running of the Plant.
Market prospects
The demand for plantain flour is increasing daily, especially with the increasing reported cases of diabetes; therefore, the degree of need; health considerations, and rising standard of living contribute in no small measure to the rising demand for plantain flour. With an estimated population of over 200 million people, the demand is 20% higher than the current supply.
The demand for plantain flour in the international market is very high especially in Europe and the U.S.A. The proposed plant can also target a segment of the market in those regions. With a $415/kg retail price, it is a good investment and foreign currency earner for the investor.
Raw materials
Plantain fruit is the major raw material and can be found in commercial quantities in different parts of the country, including in Edo, Delta, Ondo, Rivers, Bayelsa, Cross River, Akwa Ibom, Imo, Abia, Ogun, Oyo, Osun, Anambra, Enugu, and Lagos states.
Equipment Needed
The plant is made up of steam boilers, graters, specific mixers, liquid pumps, filters, dryers, and sealing machines etc. Ancillary utilities like water and electricity will be of immense importance.
Production process
The procedure of production involves the following:
Sorting: Separation of unsuitable fruits from the batches.
Weighing: Sorted plantain fruits are properly measured on a scale.
Peeling: The skin will be removed manually with sharp knives to obtain its pulp.
Slicing: A mechanical slicer will be used to slice the pulp.
Drying: In this process, the sliced plantain will be dried in a dryer in the required moisture content.
Milling: A hammer mill will be used to mill the dried sliced plantain.
Sieving: Here, the flour is sieved to obtain the desired particle size.
Packaging: Finally, the flour is packaged in a moisture-proof packaging material according to various measures.
Distribution/Marketing
The plant can set up its own sales/marketing team to engage in a sustained one-on-one sales drive. Advertising options could be based on the usage of flyers and referrals.
Facilities/Equipment
The major equipment includes
Vibro sieve
Power milling machine with cyclone
Band sealing machine
Batch code machine
20 –25Kva Generator set
Delivery/marketing van
Safety equipment
Manpower requirement
A total of 10-12 staff is required in the short-term operations of the plant. They include Skilled Worker -2, Semi-skilled Workers-4, Salesmen-1, Driver-cum-salesman-1 and Security Operative – 1
Estimated Start-Up Cost
(Small Scale): N4,500,000 – N5,500,000.00
Potential Profit: N5,000,000 – N7,000,000.00 per annum
(Medium – Large Scale): N25,500,000 – N105,500,000.00
Potential Profit: N36,000,000 – N120,000,000.00 per annum
This profile, or any similar one, can be developed into a bankable proposal for any interested investor.
Michael Stevens Consulting (MSC).
Guardain
