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Forafric Global PLC (Nasdaq: AFRI) announced a 10-year renewable lease agreement to operate a milling facility in Morocco, expecting to increase crushing capacity by 600 tons per day. The expansion will boost milling capabilities by 470 tons of soft wheat and 130 tons of durum, positioning the company for growth with low capital investment. Saad Bendidi, Chairman of Forafric, highlighted the strategic location and equipment quality of the facility, aiming to optimize operations and add value. Transition to Forafric's operations is projected for the third quarter of 2024.
