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Tanzania

National Bicycles Company Limited

$0.71 million
Manufacturing
Project Brief
Not Active

Project Facts

Project Facts

Project Facts

Tanzania
Project ID
1787
Guarantee Holder
Avon Cycles Limited
Investor Country
India
Project Type
Non-SIP
Fiscal Year
1999

In its first guarantee contract issued to an Indian investor, MIGA issued $714,286 in coverage for Avon Cycles Limited (India) for its $1.8 million investment in the privatization and expansion of a bicycle manufacturing plant in Dar-es-Salaam. MIGA insurance covers Avon's investment against the risk of war and civil disturbance.

The project, National Bicycles Company Limited (Nabico), a joint venture with a British holding company, is the only producer of bicycles in Tanzania. The project enterprise will modernize Nabico's production line to reduce operating costs and increase profitability.