Addis Ababa, February 15, 2010 (Addis Ababa) - Saudi Star Agricultural Development Plc. and a Japanese company, Satake International Co. Ltd. here on Monday have signed an agreement enabling to establish rice processing factory in Ethiopia at a cost of 125 million Birr.Saudi Star Agricultural Development Plc. Director-General, Haile Asegide and President of the Japanese Company, Shoichi Tanaka signed the agreement.
Haile said on the occasion that the agreement will enable Saudi Star Agricultural Development Plc.to process rice being developed through its project in Gambella Region.
He said the plant enables to process 100,000 tons of rice.
Nearly 350 million Birr budget is required to increase the amount to one million tons rice annually during the coming seven years.
Tanaka on his part said his company will transfer its technology to other countries so as to enable them produce quality rice.
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