A Memorandum of Understanding (MoU) has been signed between E20 Investment, an agribusiness investment company, and Dubai Investments, a renowned investment corporation, to jointly develop 3,750 hectares of agricultural land in Angola. E20 Investment is a company that specializes in purchasing and running farms and processing plants all over the world, with a concentration on Europe, Central Asia, and Africa. The business highlights global experience in the agricultural sector by bringing a wealth of information from different parts of the globe.
The goal of the project, which is to plant rice and avocado crops while utilizing Angola's fertile soil and advantageous climate conditions to reach significant yields, is to construct a sizable tract of leased property located in that country. The joint venture's goal is to develop the area into a vibrant agricultural hub over the course of 18 months, with a peak production of 5,500 tonnes of avocados and 28,000 tonnes of rice.
Khalid Bin Kalban, Vice Chairman and CEO, Dubai Investments, said: "Through this collaboration, along with the overall development of the area, the Group aims to contribute to Angola's food security which will support in enhancing the country's agricultural productivity while generating economic value for all stakeholders involved.
“E20 Investment brings extensive experience in managing large-scale agricultural projects, ensuring the implementation of cutting-edge technologies and sustainable farming practices. Their expertise will be instrumental in maximizing the project's efficiency, productivity, and profitability."