Saudi Star Agricultural Development, owned by Saudi billionaire Mohamed al-Amoudi, has announced plans to invest $100 million in a rice farm in western Ethiopia next year.
CEO Jemal Ahmed told Bloombeg that after delays caused by unsuitable irrigation design and contractor performance issues, Saudi Star wants to accelerate work on the project which spans 10,000 hectares.
“We have a very aggressive plan,” he said in an interview with Bloomberg.
Saudi Star’s $100 million investment will focus primarily on building irrigation infrastructure, as well as a rice de-husking plant, storage silos and land clearing, Jemal was quoted as saying.
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