A delegation of about 30 Indian companies led by Karuturi, the world's largest flower producer, last week expressed interest in investing in the agro business sector in Ethiopia.

Indian companies have so far invested about 5.5 billion dollars and Karuturi said that the newly coming Indian investors would significantly push up the figure.

Karuturi is currently engaged in farming flower, palm oil, rice and maize on 100,000 hectares of land in the Gambella Regional State and Bako in the Eastern Wollega Zone of Oromia Region.

According to representatives of some of the visiting investors, the companies are going to request up to 500,000 hectares of land.

Mcleod Russels India Ltd, one of the world's largest tea producers, is seeking a joint venture with prospective Ethiopian partners. The company is planning to invest in tea plantation and development project on 10,000 hectares of land. According to its representative, Saneer Gurung, Mcleod Russels India Ltd is planning to set up a plant for processing tea from small-scale tea producers in the country, the representative said.

Including Karuturi, B.H.O., Shapoorji Palarji and Imami, six Indian companies have requested and secured about 25,000 to 100,000 hectares of land in Gambella and Oromia regional states.

Source: The Reporter