Rwanda's National Agriculture Export Development Board (NAEB) has signed a joint venture agreement with a local firm, ProDev Bugesera, to boost the country's export potential of horticulture products, said a statement released Friday by the Rwanda Development Board.
The parties held negotiations, led by the Rwanda Development Board and the Ministry of Agriculture and Animal Resources, setting out the terms and taking into account industrial, commercial and technological operations of the project.
An equivalent of 250 hectares in Bugesera district in eastern Rwanda has been dedicated to this project, with an initial capital investment of 700,000 U.S. dollars, which is 30 percent of the total 2.2 million dollar capital investment required for the entire project.
"The long-term objective is to carry out modern commercial farming in Gashora marchland and promote the growth of vegetables that have a high export potential for Rwanda. The project will produce high value crops for export but also for high end markets in Kigali such as hotels and supermarkets as reflected in the business plan," the statement said.
source: news.xinhuanet.com