By William Davison (Bloomberg) — Farms were bought from govt for 1.1b birr ($59.4m), General Manager of Horizon Plantations Ethiopia Jemal Ahmed tells reporters in Ethiopia’s capital, Addis Ababa.
* Farms are Upper Awash Agro Industry Enterprise, Gojeb
Agricultural Development Enterprise and Coffee Processing
and Warehouse Enterprise: Jemal
* 400m birr to be invested over 2 yrs to double production to
50,000 mt in Upper Awash, country’s largest orange grower
* NOTE: Ethiopian-born Saudi citizen Mohammed al-Amoudi is
majority owner of Horizon Plantations Ethiopia through his
Midroc Ethiopia Group
* Al-Amoudi is single largest investor in Ethiopia and his
current net worth is estimated at $10.4b, according to the
Bloomberg Billionaires Index