Al-Amoudi to Spend $500 Million on Ethiopia Coffee, Oranges
Horizon Plantations Ethiopia Plc, majority-owned by Saudi billionaire Mohamed al-Amoudi, plans to almost double annual revenue within three years by investing at least $500 million in coffee and orange projects.
The agriculture company will train workers, improve roads and replace washing units at the Limmu and Bebeka coffee plantations, which together have over 18,000 hectares (44,479 acres) under coffee, General Operations Director Kemal Mohammed said in a Sept. 17 interview in Addis Ababa, Ethiopia’s capital. The development is part of a five-year program to invest in projects that also include Upper Awash Agro-Industry Enterprise, the country’s largest orange grower with 1,200 hectares of citrus, he said.
“We are sure because of the initiatives we have now, because of the inputs and techniques we’re applying, the productivity will increase to the maximum at the end of the five years,” Kemal said.
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