News blog
African Land
- BY: Andrew Hore |
- POSTED: 09/02/2012 |
African Land is the latest agricultural business planning to join Aim.
The plan is to use Western farming technology to improve the productivity of farm land.
African Land, which is chaired by Robert McKendrick, says that it is securing the use of 33,000 acres of farm land in Sierra Leone plus a further 30,000 acres in Liberia.
African Land has been set up by London-based Capital Alternatives (www.capitalalternatives.co.uk). Capital has already offered investors to buy part of a 3,000 acre rice farm, which has been acquired on a 48 year lease. This land has been offered at £1,950/acre. There is a shortage of supply of rice in Sierra Leone and all of the crop will be sold locally. There should be at least two harvests each year.
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