Maputo, Mozambique, 29 July – Olam Mozambique Ltd, a subsidiary of Singapore’s Olam International Ltd. Plans to invest US$35 million in rice production in the central Mozambican province of Zambézia, Mozambican newspaper O País reported.

The company plans, over the next five years, to associate itself with around 100 farmers operating in the Tewe irrigation area and whose agricultural plots have low productivity due to a lack of mechanisation.

The newspaper added that, with the acquisition of machinery, Olam Mozambique’s investment would make it possible for that irrigation area to produce 100,000 tons of rice per year.

Olam International Ltd. Focuses its business on management and processing of agricultural and food products and is present in 64 countries. (macauhub)