Foreign investors cultivating sesame, cotton with over 20 million Birr
N. Gondar Zone, July 18, 2007 (Gondar) - Five foreign investors with a combined capital of over 20 million Birr have begun cultivating sesame and cotton in Metema Woreda of North Gondar Zone, Amhara State, the woreda agriculture and rural development office said.

Office head, Tesfaye Tamiru told Ethiopian News Agency that the investors, Israeli and American citizens, have been cultivating the crops on 5,520 hectares of land they received from the woreda.

Tesfaye said the investment projects have created jobs to over 1,000 people.

He said the woreda administration has been encouraging the investors. The administration has reduced land lease payment to 29 Birr from 69 Birr per hectare.

It has also been implementing a system enabling to extend the duration of contracts, among others.

He said a study enabling to make use of farm land properly was underway in the woreda.

Investors and farmers have been supplying up to 350,000 quintals of sesame and cotton annually to the local and external market.

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(c) The Ethiopian News Agency