Wednesday, May 4, 2011

Ethiopian Government Slashes Karuturi Global Land Concession by Two-Thirds

Three hundred thousand hectares is a huge area of land. Nobody can manage it,” Esayas Kebede, head of the Agriculture Ministry’s land investment support directorate said on April 29. “Therefore, Karuturi should get a rational and manageable plot of land based on its own capacity and our monitoring and evaluation capacity.” Karuturi Chief Executive Officer Sai Ramakrishna Karuturi said reports claiming the government reduced the concession “are completely baseless.” The company is developing 111,700 hectares of agricultural land, while 200,000 hectares “continues to be with us as part of the concession and will be developed in a phased manner,” he said in an e-mailed statement today. Read more…

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