Emami Biotech intends to invest Rs 400 crore in a plantation project in
Oromia, Ethiopia within five to six years.
The company is planning to take up plantation of jatropha, bio-fuel crop and
other edible and non-edible seeds on 1,00,000 acre. It has already acquired
27,500 acre. Initially, the company is likely to invest Rs 120 crore. Mott
McDonald has been roped in to conduct a feasibility study for the project.
The proposed plantation project is expected to have debt-equity ratio of
30:70. Currently, the company is holding talks with State Bank of India, Exim
Bank and Bank of Baroda for term loan.
The entire oil produce will be transported to Emami's Haldia plant in West
Bengal, for refining.