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KGT to invests 300 million USD in the agriculture and food industry in Timor-Leste

KGT to invests 300 million USD in the agriculture and food industry in Timor-Leste

(Photo/Google)

DILI, 4 december, 2021 (TATOLI)- Kesgavarz Great Timor (KGT) will invest 300 million in agriculture and the food industry in three municipalities in Timor-Leste.

The Director of Kesgavarz Great Timor (KGT), AYUB JOSEPH KARIMI said that KGT had conducted surveys in three municipalities, Manatutu, Baucau, and Lospalos, and had identified potential for agriculture and the food industry including cow’s milk and meat.

“Timor-Leste is needed for more investment in Agriculture and Food industry. Both are important sectors that need to be developed to achieve sustainable outputs,” said Director of Kesgavarz Timor Besar, AYUB JOSEPH KARIMI to Tatoli, at his office Bidau Lecidere, on January 4.

KARIMI said the agricultural sector would be implemented in the municipalities of Manatutu and Lospalos. However, the production of cow’s milk and the meet will be carried out in Laleia.

KGT will provide 2 to 4 thousand hectares of land for agricultural investment in Manatuto and 1000 hectares in Lospalos municipality.

“The 2000 hectare land will be used for a food factory in the Laleia area and it will cost up to 20 million for food factories,” he said.

The project will employ a minimum of 6,000 employees and 12,000 workers.

“About 15,000 cows will be provided by KGT and 20 tons of fresh milk will also be provided and 2 million chickens will be produced to meet domestic food logistics demanding,” he said.

Mr. KARIMI emphasized that KGT has also identified agricultural land in Lospalos for the cultivation of corn, soybeans, Alfalfa, and Claver which will be used for animal feed such as cows and chickens.

According to KARIMI, the program will be implemented in March 2022, considering that currently, the company is facing challenges in land cultivation which has caused KGT to delay the process of starting investment projects in agriculture and the food industry.

Currently, KGT is carrying out a project on Hera’s farm with 19 cows, for 300 million USD to be spent on Agriculture and the food industry, the project is implemented after KGT completes the results of the land test conducted on 23 December 2021.

Relevant News:http://www.tatoli.tl/en/2021/11/23/four-companies-to-invest-more-than-us70m-in-productive-sectors/

 

Journalist: José Belarmino De Sá

Editor: Nelia B

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