Deal #1348

Another source states that the company was only able to bring 300 ha under cultivation. Ghana media news reported a total intended size of 6000ha.

Rice production-The farm is cultivating Jasmine 85 and Sierra (basmati variety) from the United States but is also planning to experiment with some other varieties from Brazil to increase output.

Formerly known as the Aveyime rice project.

Feasibility study done in 2003, only started operating in 2008. The government originally acquired the land in 1977. Government contribution to the project was 1000 ha of land. In 2011 the company was reported to be negotiating a 50 year lease for 2000 ha.

Land disputes quickly flared up, therefore only a fraction of the rice projected was ever grown, and the company soon plunged into debt. The government lent the company US$7.2 million to revamp project, but the project was ultimately abandoned.

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.