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Sovereign Wealth Funds Briefing - Categorized | Ethical/Green Investments

Karuturi to borrow from sovereign fund after first Ethiopia crop

Posted on 02 April 2013

Karuturi Global Ltd. (KARG), the world’s largest rose grower, said it will borrow more than $100 million from a sovereign wealth fund to invest in farming in East Africa after selling its first produce from a plantation in Ethiopia.
The company, based in Bangalore, India, produced 21,000 metric tons of corn in the last quarter of 2012 that sold for about $6.5 million in Ethiopia, Managing Director Sai Ramakrishna Karuturi said in a phone interview on March 27. The harvest, grown on its plantation in western Ethiopia, showed the project was “not a disaster” after floods destroyed a 60,000- ton corn crop in September 2011, he said………………………………………..Full Article: Source


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