Blumberg Grain Executes Letter of Intent to Expand Its Agricultural Investment to Nigeria with $250 Million Commitment | Global AgInvesting

Blumberg Grain Executes Letter of Intent to Expand Its Agricultural Investment to Nigeria with $250 Million Commitment

Blumberg Grain Executes Letter of Intent to Expand Its Agricultural Investment to Nigeria with $250 Million Commitment

In an effort to establish a major presence in Western Africa, Blumberg Grain, a leading U.S.-based food security company has signed a letter of intent with the Nigerian government for a $250 million investment into the Nigerian agriculture sector.  The first phase of the investment plan, which will begin in the third quarter of 2013, includes the construction of a production facility for Blumberg Grain’s food storage warehousing systems as well as the initial building of 340,000 metric tons of crop storage capacity and will go on to include large scale production and distribution facilities, food security storage warehouses, agriculture processing and packaging facilities, and investment in land and technology to create high-yield, high-efficiency farms.

 

Read the article

 

To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service.