Sierra Leone Economy Boosted with the Largest Agricultural Investment from China.
24th January 2012 · 1 Comment
According to reports reaching the Sierra Leone Daily Mail, China’s Hainan Natural Rubber Industry Group has signed an agreement with the government of Sierra Leone for a deal expected to be the largest agricultural investment in the history of the nation.
The deal is worth about US$1.2 billion and involves both rubber plantations and rice crops which is the staple food in the nation. A total of 135,000 hectares will ultimately be involved in the project, which will be developed over a six year period. The first phase of investment is due to begin next month with a 30,000 hectare rubber plantation and a 25,000 hectare rice project.
It is agreed that the Dr. Ernest Koroma’s government will provide the land for an initial period of 50 years, subject to renewal, and in exchange hold a ten per cent share in the project.
© 2012, Christian Foday Sesay Jr. EIC. All rights reserved. Discuss this article on the Salone Forum Salone Forum
By Christian Foday Sesay Jr. EIC
A great piece of news for Sierra Leone and Africa. Hopefully this will be a well-guided investment and not end up as another land grab. The African peoples rights need protecting, by the African people!