U.S. firm, AgriSol Energy and a Tanzanian partner will invest more than $100 million over the next 10 years to develop a large-scale commercial farming project in the east African country.
AgriSol has joined with Serengeti Advisers, a Tanzanian investments and consulting firm, to invest in crop and poultry production in western Tanzania. The initial project in Lugufu has been projected to cost in excess of $100 million over the next ten years to develop the area. The initial focus will be on the growth of maize and soy, Bertram Eyakuze, one of AgriSol Tanzania directors told Reuters, adding that the original project is just a “tiny percentage of the overall available land in Tanzania.” Poultry production would also be a focus of the project so that country does not have to rely so heavily on importing chicken from Brazil and other countries and to improve the country’s overall food security.
