Port Louis, Mauritius, 2 Sept – The Mauritian foreign affairs minister said that his government had acquired an area of 20,000 hectares in Mozambique to produce rice for the country.
Minister Arvin Boolell said that most of the land was located in Marracuene , in Maputo province.
The land was acquired following a joint venture between the government of Mauritius and Singapore company Vitagrain owned by Intrasia Capital, which operates in the mining and energy sectors.
Around half of the area acquired from Mozambique for rice production will be used by Vitagrain, which will invest around US$43 million in this hybrid rice project.
Recently the Libya Africa Investment Portfolio group, a fund of the Libyan government, got together with Mozambican company Ubuntu and acquired the usage rights of an area of 9,000 hectares in Bela Vista, Matutine district, next to Maputo, also to produce rice.
The group plans to expand the area to 20,000 hectares at a later date. (macauhub)