Dubai firm invests $500m in Tanzania
- Business Week
- 07 November 2011
City Energy & Infrastructure will be involved in the development of a sugar plantation and sugar processing plant in an area of 100,000 hectares.
City Energy & Infrastructure will be involved in the development of a sugar plantation and sugar processing plant in an area of 100,000 hectares.
With investors from the Middle East and the U.S., Africa Atlantic Farms is pursuing mechanised farming on 10,000 hectares it has leased in Ghana in the Afram Plains region, with plans to expand.
Xinjiang and Nigxia present huge opportunities to Arab investors for mining coal, oil and gas as well as the development of wind and solar power, halal food industry and large-scale agriculture.
Sudan is urging the UAE to begin developing the vast expanses of farmland it has acquired in the country, as the north loses the majority of its oil revenues following the independence of South Sudan.
UAE-based food company IFFCO Group will be investing in palm oil plantations and cattle processing facility in Ethiopia — a country that could be one answer to UAE's food security issues, said a senior company official.
Iowa agribusiness investor Bruce Rastetter is leading a project to turn as much as 800,000 acres [324,000 hectares] of land in the east African country of Tanzania into a massive grain-and-livestock operation.
The focus of Aabar on farming investments comes as Gulf nations, including Abu Dhabi, plan billions of dollars of investments in global food supply and infrastructure as they guard against price shocks and supply shortages in core resources.
Governor of Northern State says an Emirates investor, to whom 95,000 acres have been allocated in Um-Jawaseer, will invest USD 15 million.
UAE investments in Vietnam have reached $3 billion and are set to surge with local companies considering opportunities in agricultural lands, real estate and energy.
The world's largest commodities trader and major farmland owner is issuing a stock sale, and critics say the firm causes spikes in food prices.
Glencore has an 8.7% share of the "addressable" global grain trade and farming operations covering 270,000ha in Argentina, Australia, Kazakhstan, Russia and the Ukraine.
Company's chief operating officer expected to return next month to look at agriculture investments.