El Siglo is dedicated to planting, harvesting and commercializing bananas and plantains. Currently, El Siglo has 600 hectares of banana plantation and 200 hectares of plantain plantation, located on farms equipped with irrigation systems, aerial cable systems to transfer the fruit to the packing plants and four fruit packing plants. The Company’s production is mainly sold to Compañía Bananera Independiente S.A. (“Cobigua”), under the Chiquita brand, through long-term agreements.
The objective of this operation is to finance the cultivation of 475 hectares of bananas to be sold to Cobigua through a long-term purchase agreement (the "Project"). The total project cost is US$10,450 million, excluding the cost of land, since the latter will lease to a related company.