Sierra Leone Economy Boosted with the Largest Agricultural Investment from China.
Courtesy: Sierra Leone Daily Mail Newspaper.
24th January 2012
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.
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