To ease your site search, article categories are at bottom of page.

May 17, 2010

Indian firm to grow crops in Ethiopia

Indian personal care and ayurvedic medicines major, the $165- million Emami group, is making a big foray into Africa not just in their traditional lines of businesses but also in contract farming and power generation, a top official has said.

"In Ethiopia, Emami Biotech has been allotted 100,000 acres of land by the Investment Commission. We will cultivate edible and non-edible oil seeds and cereals like gram, maize, sunflower, soya and jatropha," said the company's director Aditya V. Agarwal.

"The cost in the first phase is Rs.400 crore ($85 million)," Agarwal said, adding; "Labour is only a small cost. The benefit is in the availability of land. We are most interested in this aspect. We have successfully availed land without any hassles."

According to him, one of the reasons why the group's focus was on Africa was that the large continent accounted for a sizeable share of their exports, which form 15 percent of their sales turnover, reaching out to 60 countries.

"It is more than just about money. Ours is also a poor country and we are improving so we can relate to the degree of progress there too. It would definitely pay in the long term," he said. "Another reason particularly so far, the Ethiopian government has been very cooperative and this is one of the major reasons - 'why Ethiopia'. They are very approachable and willing to help which works well for us."

Agarwal said plans were also on for Rs1,500 crore ($335 million) additional investment in Ethiopia for a 300-mw power plant. "Feasibility and viability studies are currently underway," he said. Nigeria and South Africa are also on the group's radar.

He hoped that just as his Emami group will benefit from the projects planned in Africa in general and Ethiopia in particular, these countries, too, would derive opportunities from his group's investments there.

"One of our major projects being cultivation, it creates a lot of employment, leading to growth, inflow of foreign money, development of natural resources like land and water, training and education of residents and therefore awareness and progress."

Headquartered in Kolkata, the 30-year-old Emami group has such brands in its stable as Boroplus, Hairlife, Sardi Ja and Sona Chandi Chyawanprash. In recent months, it has acquired the ayurvedic medicines major Zandu and diversified into the realty business.

India Times

Article Categories

AGRA agribusiness agrochemicals agroforestry aid Algeria aloe vera Angola aquaculture banana barley beans beef bees Benin biodiesel biodiversity biof biofuel biosafety biotechnology Botswana Brazil Burkina Faso Burundi CAADP Cameroon capacity building cashew cassava cattle Central African Republic cereals certification CGIAR Chad China CIMMYT climate change cocoa coffee COMESA commercial farming Congo Republic conservation agriculture cotton cow pea dairy desertification development disease diversification DRCongo drought ECOWAS Egypt Equatorial Guinea Ethiopia EU EUREPGAP events/meetings expo exports fa fair trade FAO fertilizer finance fisheries floods flowers food security fruit Gabon Gambia gender issues Ghana GM crops grain green revolution groundnuts Guinea Bissau Guinea Conakry HIV/AIDS honey hoodia horticulture hydroponics ICIPE ICRAF ICRISAT IFAD IITA imports India infrastructure innovation inputs investment irrigation Ivory Coast jatropha kenaf keny Kenya khat land deals land management land reform Lesotho Liberia Libya livestock macadamia Madagascar maiz maize Malawi Mali mango marijuana markets Mauritania Mauritius mechanization millet Morocco Mozambique mushroom Namibia NEPAD Niger Nigeria organic agriculture palm oil pastoralism pea pest control pesticides pineapple plantain policy issues potato poultry processing productivity Project pyrethrum rai rain reforestation research rice rivers rubber Rwanda SADC Sao Tome and Principe seed seeds Senegal sesame Seychelles shea butter Sierra Leone sisal soil erosion soil fertility Somalia sorghum South Africa South Sudan Southern Africa spices standards subsidies Sudan sugar sugar cane sustainable farming Swaziland sweet potato Tanzania tariffs tea tef tobacco Togo tomato trade training Tunisia Uganda UNCTAD urban farming value addition value-addition vanilla vegetables water management weeds West Africa wheat World Bank WTO yam Zambia Zanzibar zero tillage Zimbabwe

  © 2007 Africa News Network design by

Back to TOP