Karuturi Global Ltd., one of the largest investors in Ethiopia’s farm industry, is challenging the termination of its project, claiming the government broke the terms of its agreement with the company.
The Agriculture Ministry’s cancellation last month of the company’s 2010 lease is invalid as it didn’t follow procedure, contravened an investment agreement between India and Ethiopia, and wrongly accused the company of inadequate progress, Managing Director Sai Ramakrishna Karuturi said in an interview Jan. 5 in the capital, Addis Ababa.
