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Saudi Star to invest US$100m in Ethiopia rice farm
Billionaire owner pumping money to revive project, with focus on building irrigation infrastructure
Add BT as a preferred sourcePublished Wed, Dec 3, 2014 · 09:50 PM
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Addis Ababa
SAUDI Star Agricultural Development, an Ethiopian company owned by billionaire Mohamed al-Amoudi, said it plans to invest US$100 million in a rice farm in western Ethiopia next year to kick-start the stalled project.
The company leased 10,000 hectares (24,711 acres) in the Abobo district in the Gambella region, where it's based, in 2008 and bought the 4,000-hectare Abobo Agricultural Development Enterprise from the government 18 months ago for 80 million birr (US$4 million).
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