Guernsey-based Agriterra Group acquires agricultural unit in Mozambique

22 January 2013

The Agriterra group has acquired a 2,500 hectare agricultural in the Mozambican central province of Manica, adding bananas and macadamia nuts to its portfolio of products the group said in a statement published in Guernsey, a British dependency located in the English Channel.

The agricultural unit is located 25 kilometres from the Mavonde farm, where the group has a cattle breeding ranch.

The banana plantation currently produces 7 tons of fruit a day and the group plans to increase production.

In the statement, the Guernsey-based group said that the lagoon to irrigate the fields of Mavonde had reached its maximum of 48 billion litres and that the dam would provide electricity to operate the irrigation pumps.

Agriterra is listed on the London Stock Exchange’s Alternative Investment Market (AIM) and is involved in producing beef and buying maize for milling. It operates in Sierra Leone and Mozambique. (macauhub)