LongPin, Eagle Hill and Food Platform from India have signed an agreement with Tanzania Investment Centre (TIC) for the development of Mkulazi Investment city in Tanzania.
The three companies will be leased a total 30,000 hectares of Mkulazi farms in Morogoro Region, for the production of sugar, soybeans and yellow corn with an investment pegged at 1.2trn.
Each company will get 10,000 hectares and the production will be mainly for export.
The move is estimated to provide 9,000 direct jobs and up to 11,000 indirect job opportunities.
Mkulazi Agriculture Investment City is a project comprising 61,000 hectares envisaged for development as an agricultural hub by TIC.
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