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| Expansion of Debri Zayit Flower Complex Announced | |
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| Tweet Topic Started: Jun 7 2008, 10:56 PM (119 Views) | |
| Ethiopia | Jun 7 2008, 10:56 PM Post #1 |
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Debri Zayit Flower Complex to Expand March 30th, 1950: Addis Tribune (DEBRI ZAYIT) - The Ethiopian and Dutch Governments are pleased to announce the expansion of the Debri Zayit Flower Complex. The deal is centered around the expansion of the the Debri Zayit area where Dutch and Ethiopian investors have been producing cut flowers for export. The deal exists due to stipulations in the original contract which afforded Dutch and Ethiopian investors the option of executing further land purchases in the fall of 1949. Investors have been slow to act on final decisions due to uncertainty over a stoppage in allowing foreign investment in mid 1949. After the Oromo regional state passed favorable legislation, Dutch investors were happy to come on board, while Ethiopian officials welcomed the expansion of the project. The current Dutch holding is in the form of a corporate operated commune. However, the new development will be in the form of the standard corporate plantation which will act in direct competition with the pre-existing facilities which include a corporate commune, an Ethiopian state commune, and an Ethiopian private plantation. Ethiopian Flower Company will be cultivating another 500 acres, while the Ethiopian government will be extending their operation by 500 acres as well. Land has been set aside to allow for additional housing developments near the main road way for the project. Newcomers to the complex will have access to pre-existing clinics and schools. The small city currently has just over 11,000 people in it. With capacity to hold 12,000. The current extension of the project is expected to draw another 6000 people. Dutch investors will be investing 50,000,000USD on the project. The Ethiopian state government will be spending 25,000,000USD to be budgeted in fiscal year 1951, and Ethiopian Flower Company will be spending 18,000,000. The extension of the project is expected to draw in an additional 140,000,000 USD in direct revenue every year. |
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8:28 AM Jul 11