Karuturi Global Plans $500 Million Investment in Tanzania Crops
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Karuturi Global Ltd., the world’s largest rose grower, may invest as much as $500 million in food production and processing in Tanzania as it expands operations in East Africa.
The company plans to lease land to grow palm oil, sugar cane and cereals in Tanzania, to add to land it has acquired in Ethiopia where it already grows the same crops, Managing Director Sai Ramakrishna Karuturi said in an interview. Karuturi is currently visiting Tanzania, Uganda and Ethiopia as part of a delegation of 35 Indian investors who are considering investing $2.5 billion in the three countries, he said yesterday.