ACIL Cotton Industries Ltd has informed BSE that Board of Directors of the Company decided to setup Subsidiaries in Congo, Ethiopia, and Brazil to start Agriculture Farming. Company will appoint consultant for feasibility report of Agriculture Business in Ethiopia, Congo and Brazil.
Company is planning to start 'Contract Farming' of Crops include coffee, pulses (e.g., beans), oilseeds, cereals, potatoes, sugarcane, and vegetables on Leasehold Agriculture land in these Countries The company expecting the potential for large profits is so great that it plans to invest nearly million in its in Congo, Ethiopia, and Brazilagricultural operations.
As per Report Ethiopia's great land lease project is moved swiftly ahead. In an effort to introduce large-scale commercial farming to the country, the government is offering up vast chunks of fertile farmland to local and foreign investors at almost giveaway rates. By 2013, 3m hectares of idle land is expected to have been allotted - equivalent to more than one fifth of the current land under cultivation in the country. | | Source : BSE |
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