Sheik’s New Agro Firm Shells Out $80m
Fortune, Ethiopia
October 10, 2009
Al Amoudi has a new company whose purpose is to grow food in Ethiopia for Saudi Arabia. This company has paid 80 million dollars for Caterpillar agricultural machinery and equipment. Its plans to increase its holdings to 500,000hct are preceded by the short term plans to acquire 200,000hct from various regional states in the country. WUDINEH ZENEBE, Special to Fortune reports that the company will add more crops as it increases its territory to include maize, teff, sugarcane and oil seeds.
WUDINEH ZENEBE
