August 22, 2012

Russia's Premium group to invest in Republic of Congo's agriculture

The Premium group plans to invest over EUR500 million (US$623 million) in the Republic of Congo's agricultural sector.

The officials of the Russian company, who had visited Congo recently made these revelations during a meeting with Congolese Agriculture Minister Rigobert Maboundou.

"Our Russian friends from the Premium group want 25,000 hectares for farming and livestock keeping activities and they intend to invest over EUR500 million (US$623 million). We shall work with them and help them locate the land from where they will carry out their activities," Maboundou said on Monday (Aug 20).

For the first phase, the Russian investors are expected to carry out an analysis of the soil samples, so that they can determine the crops that they will grow on the land.