Karuturi tractors make big splash On Bole Road
- Horizon Ethiopia
- 28 October 2010
Karuturi is perhaps the poster child for the big land grabs that have characterized large scale agricultural investment in Ethiopia
Karuturi is perhaps the poster child for the big land grabs that have characterized large scale agricultural investment in Ethiopia
50yr lease agreement between Ethiopian government and India's Karuturi covering an initial 100,000 ha in Gambela. Contract enables Karuturi to extend concession by another 200,000 ha.
“I got in on the ground floor, others got in on the second floor, but there’s a lot of floors left to go in Africa’s economic cycle,” says farmland investor Sai Karuturi.
MMTC, Iffco and Bharti are the latest to find the continent’s land and labour attractive for their agribusiness.
Given the limited scope for farmland expansion within India, policy makers need to evaluate the option of cross border farmland cultivation, says the director of YES Bank
Ramesh Krishnaswamy of Karuturi Global in an exclusive interview with CNBC-TV18
India and Mauritius have resumed discussions over a proposal to hand over the twin islands of Agalega to India for tourism development and possibly agriculture.
Indian rice exporter Amira Group plans to acquire 25,000 hectares of agricultural land in Cambodia, and is discussing further farnland acquisitions with the governments of Angola and Sierra Leone.
Sannati Agro Farm Enterprise Plc received a 10,000ht plot of land in Dimi District, Gambella Region, for the cultivation of rice, pulses, and cereals, from the Ministry of Agriculture and Rural Development on October 1, 2010.
Addis Abaaba has decided to withdraw from the regional governments the right of attributing leases of over 1,000 ha. However, the 2010 federal budget lists no income whatsoever, and no information on this subject appears in the quarterly reports of the National Bank of Ethiopia.
Contract is for 10,000 ha in the Regional State of Gambela for a period of 25 years, with option for renewal.
The people of Ethiopia have a question for you and the government of Ethiopia you represent, “Why are you giving away our land to foreigners?”
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