Luxmi Tea Company to invest in Rwanda
An Indian firm, LuxmiTea Company Private Ltd signed a memorandum of understanding with Rwanda government to develop tea sector by investing more than thirty million US dollars on 4,438ha in Karongi District. 438 ha will be covered by an industrial block while 4,000 ha will be the acreage under tea cultivation
According to Hon. Gerardine Mukeshimana, the Minister of Agriculture and Animal Resources who signed this agreement on behalf of Rwanda, this project to be implemented at Rugabano Site in ten years will be an opportunity for the country in terms of tea sector development, its revenues, employment for more than 10,000 local citizens, etc.
Hon Clare Akamanzi, the CEO in RDB and member of Cabinet, said that the project will contribute to the development of export sector while flying the Rwandan flag through “Made in Rwanda” products.
On behalf of Luxmi Tea Company Private Ltd, Rudra Chatterjee, the CEO appreciated the route paved for external investors in Rwanda and pledged a strong mutual partnership in making the project successful.
It is expected that after the third year of the project’s implementation, Luxmi will build a tea packaging facility following the commencement of production of made tea. Prior to that they will construct a Tea Factory with a capacity to produce four million kilograms (4,000,000kgs) of Black CTC tea per year.
“In 10 years, we will be getting nine to ten metric tons from this project and between twenty eight and thirty million USD per year.” Amb. George William Kayonga, the CEO in NAEB revealed.
Published on 12 July 2017
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