Dorado plans new cashew processing plant in Côte d’Ivoire

Dubai-based Dorado FZCO is seeking a $15 million loan from the International Finance Corporation (IFC) to finance a new cashew processing plant in Yamoussoukro, as the company expands its industrial footprint in Côte d’Ivoire.

The project, operated through Dorado’s Ivorian subsidiary Bluejay Nuts SARL, has an estimated total cost of $18 million. The proposed IFC financing would account for $15 million, while the remaining $3 million would come from Dorado shareholders as equity. As of Sept. 17, the IFC investment was still listed as pending approval.

The planned Bluejay plant will have the capacity to process 50,000 metric tons of raw cashew nuts per year. Construction has already begun on a 5.43-hectare site in Yamoussoukro’s industrial zone, with completion expected in the first quarter of 2027.

The facility will include a 30,000-ton storage warehouse, an on-site wastewater treatment plant, a boiler and a 2.5-megawatt rooftop solar system. The project is designed to expand local cashew processing and increase the amount of value generated within Côte d’Ivoire rather than exporting raw nuts for processing abroad.

Dorado already operates a large raw cashew nut processing facility in Toumodi, with an annual capacity of 120,000 metric tons, according to IFC project documents. Once the Yamoussoukro plant is operational, Dorado’s processing capacity in Côte d’Ivoire would reach at least 170,000 metric tons per year.

The company also plans to make use of the cashew shells generated during processing. The shells from the Yamoussoukro operation are expected to supply Dorado’s existing Cashew Nut Shell Liquid facility in Toumodi. CNSL is an industrial product used in applications including resins, coatings, paints and friction materials.

The expansion comes as Côte d’Ivoire seeks to increase domestic processing of its large cashew crop. The IFC says local processing currently accounts for about 40% of national production, with a significant share of raw cashew nuts still exported for processing elsewhere. The agency expects the Bluejay project to contribute to job creation, stronger market access for smallholder farmers and greater domestic value addition.

Dorado has already built a supply network in Côte d’Ivoire, sourcing raw cashew nuts from cooperatives and aggregators across the country. The company’s existing Toumodi facility sources from producers nationwide, while a similar supply model is expected to support the Yamoussoukro plant.

For the IFC, the proposed investment is intended not only to finance additional processing capacity but also to support improvements in Dorado’s supply-chain management and environmental and social practices. The project has been classified as Category B under the IFC’s environmental and social policy framework.

The Yamoussoukro project would therefore strengthen Dorado’s position in Côte d’Ivoire’s cashew industry while supporting the country’s broader push to capture more value from one of its major agricultural commodities through local processing.