Deal #1356

Guinea
Created at
2013-02-15
Last update
2019-05-27
Last full update
2019-05-27

Land area

Intended size
2 400 ha
Size under contract (leased or purchased area)
  • [1996] 1800.0 ha
  • 2400.0 ha
  • [2018, current] 1800.0 ha
Comment on land area
The farm increased in size to 2400ha, it is not clear when this increase occurred. The farm was abandoned by previous investor and leased to another investor in 2018. Under Crassus, 1000ha will be farmed by the company while 800ha will be reserved for smallholders.

Intention of investment

Intention of investment
  • [current] Food crops, Livestock
Comment on intention of investment
IUnder previous owner: Project has two components- 1. mixed development on around 400ha for poultry, irrigated rice, vegetables. 2. a previous sugarcane plantation on 2000ha which was converted to rice paddies.

Nature of the deal

Nature of the deal
Lease

Negotiation status

Negotiation status
  • [1996] Concluded (Contract signed)
  • [2017] Concluded (Change of ownership)
  • [2017] Intended (Memorandum of understanding)
  • [2018, current] Concluded (Contract signed)
Comment on negotiation status
Project was previously abandoned. New investor in 2018, new lease signed in 2018.

Implementation status

Implementation status
  • [1996] In operation (production)
  • Project abandoned
  • [2018, current] Project not started
Comment on implementation status
Initiated in 1979 as large irrigated rice-promotion centre with Chinese aid. It is likely that this project is abandoned- the company did not make money from it. It is not clear in which year the project was abandoned. New investor in 2018

Leasing fees

Comment on leasing fee
at no cost for the first 10 years

Contract farming

Contract farming
Yes
On leased / purchased
Yes
On leased area/farmers/households
  • [current] 800.0 ha