Please note: you are viewing an old version of this deal. The current version can be found here: Deal #1348

Deal #1348 Version #52819

Ghana
Created at
2013-02-15
Last update
2013-06-28
Last full update
2024-04-24

Land area

Intended size
5 000 ha
Size under contract (leased or purchased area)
  • [2012, current] 2150.0 ha
  • [2009] 1285.0 ha
Size in operation (production)
  • [2011, current] 303.0 ha

Intention of investment

Intention of investment
  • [current] Food crops

Nature of the deal

Nature of the deal
Outright purchase

Negotiation status

Negotiation status
  • [2003, current] Concluded (Contract signed)
Comment on negotiation status
Feasibility study done in 2003, only started operating in 2008. The government originally acquired the land in 1977.

Implementation status

Implementation status
  • [2008, current] In operation (production)

Purchase price

Purchase price
260
$
per ha
Comment on purchase price
The land was acquired by government decree. Prairie Rice, which believed it was buying the land, deposited the sale price (US$260 per hectare—the basis for this price was not explained) in an escrow account awaiting a court decision on the identity of the former landowners to whom the money should be paid. Ten community claimants filed a suit, arguing that they were the rightful landowners. The company was allowed to cultivate the land while the dispute was being resolved. Prairie Rice also paid a US$100,000 registration fee to the Lands Commission.