Port-Louis, Mauritius, 30 Jan – Two companies from Mauritius have announced plans to invest 1.4 billion rupees (US$47 million) in agricultural production projects in Mozambique, according to Port-Louis newspaper L’Express.
The investment mentioned is more than the 900 million rupee investment that was initially planned.
Compagnie des Trois Amis (CDTA) plans to invest 600 million rupees in rice production on a 4,000 hectare plot of land whilst British American Investment Co. will invest 850 million rupees on maize, sunflower and soy production, according to L’Express.
In 2011, an announcement was made that Compagnie des Trois Amis had set up a partnership with two Indian companies, Supreme Agro Projects and Prama Consulting Services, for rice production in Mozambique involving investment of 300 million rupees (US$107,000).
At the time, the chairman of CDTA, Varma Aubeeluck, said that that amount could be increased depending on the facilities needed and the area of land attributed to the company. (macauhub)