Mcleod Russel seeking Africa land acquisitions

Mcleod Russel, the world's biggest tea producer, is seeking to buy land in Africa to develop tea plantations, the Times of London reported on Monday.

"We estimate the world will require an extra 50-60 million kilograms (of tea) every year to meet demand, but there is no more land available in India to meet that growth," said Aditya Khaitan, the group's managing director, in an interview with the newspaper. "Acquisitions are the only way forward." Khaitan told the newspaper that Africa was the most promising location to plant tea bushes. Uganda and Rwanda are among the countries in which the company is seeking to buy land, the newspaper said. Last month, the company said one of its units signed a pact with Rwanda Development Board and Rwanda Tea Authority to buy a 60% stake in a tea company.