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FINANCIAL NEWS
Saudi’s Horizon Plantations to invest USD500m in Ethiopia
28 Sep 2014
(MENAFN) Horizon Plantations Ethiopia, a majority Saudi-owned agricultural company, announced it is planning to invest at least USD500 million in coffee and orange projects, Arabian Business reported.
The company said that it will train workers, improve roads and replace washing units at the Limmu and Bebeka coffee plantations, which will almost double annual revenue within 3 years.
Horizon Plantations, which is part of al-Amoudi’s Midroc group, said it is looking for a foreign partner to invest in the Coffee Processing and Warehouse Enterprise on the outskirts of the capital.
“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,” The company said in a statement.
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