Monday, December 12, 2016
Kenyan Millionaire Invests $4 Million In Macadamia Plant.
Kenyan Millionaire Naushad Merali Invests $4 Million In Macadamia Plant. Sasini Limited, an agricultural company controlled by Kenyan tycoon Naushad Merali, is investing $4 million to establish a macadamia processing facility in Kiambu, outside Nairobi. According to a report by The Star newspaper, Merali’s new processing plant will be set up on a 20-acre farm next to some coffee mills it owns in Kiambu county. The location is proposed for a Special Economic Zone, a protectionist area where manufacturers benefit from incentives such as tax holidays, and which is close to Sasini’s coffee mill in Kiambu. Merali says that Sasini, which is listed on the Nairobi Stock Exchange, will inter-plant macadamia with its coffee bushes at calculated spacing so that the two can thrive together without needing additional land. “This is being planted at desirable spacing which will not compromise on coffee production. We anticipate to generate a further Sh300,000 ($3,000) per hectare from this venture within the coming six years when we shall be at optimal production of macadamia nuts,” Merali said in a press statement. continue