Kenyan company invests $5.8m into macadamia & avocado sectors
Chairman Naushad Merali said the cash will be injected into the avocado export business, macadamia subsectors and other areas.
The company in December announced plans to set up a Sh530 million macadamia processing plant on a 20-acre farm next to its coffee mill in Kiambu, and an embryo production centre at Mweiga farm.
An additional Sh50 million seed capital has been set aside to fast-track an avocado export business pilot project, Merali said. The avocado pilot project will set the stage for a multi-million-shilling modern factory from next year.
“In its diversification strategy, the company has broken ground for the construction of a macadamia nuts processing factory in its Kiambu farm and encouraged its coffee farmers to plant the crop,” he told investors.
“We anticipate to generate a further Sh300, 000 per ha from this venture within the coming six years when we shall be at optimal production of macadamia nuts,” he added.
source: the-star.co.ke
