M7 Gives Out 8,000 Hectares Of Land To Bidco Investor

viagra approved geneva; font-size: small;”>Museveni made the announcement in the presence of Lands and Housing Minister Daudi Migereko and Deputy Treasury Secretary Keith Muhakanizi at Kampala Serena Hotel.

this geneva;”>The President told the delegation led by Bidco Managing Director Kodey Rao that government would assist them get the land to facilitate their operations since the company continues to contribute to the economic development of the country.

“We have the land for you. You will take it and develop that company and create jobs for our people. The future of Uganda’s economy will be determined by how fast we promote the industrial sector,” said Museveni.

Bidco boss Rao revealed the small scale farmers who sell their produce to the Company will annually earn Shs3.5m per acre from the cultivation of oil palm trees.

He further stressed 30,000 hectares of land would go a long way in ensuring the sustainability of the project.

Started in 2002, the oil palm project in Kalangala district is a government initiative led by the Vegetable Oil Development Programme, along with other investors through a joint venture between Wilmar Group of Malaysia, Josovina Commodities of Singapore and Bidco Oil Refineries of Kenya.

The project is the single largest foreign direct investment in the country in the recent past worth US$150 million.

At its peak, the project will make Uganda fully self-sufficient in edible oils, removing the need for nearly US$100 million worth of annually oil imports.


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