Deal #5568

Location #1

Spatial accuracy level
Administrative region
Location
Waliso, Ethiopia

Target country
Ethiopia
Comment on location
Wolesso Unit: Maro Bariyo & Haile Mariam Kebele, Woliso District, Shouth west Shoa zone

Land area

Size under contract (leased or purchased area, in ha)
385
Size in operation (production, in ha)
77
[2009] 25
Comment on land area
Net cultivatable area 200ha.

Intention of investment

Intention of investment
Non-food agricultural commodities

Nature of the deal

Nature of the deal
Lease

Negotiation status

Negotiation status
[2007] Concluded (Contract signed)
Comment on negotiation status
Parent company initiated liquidation proceedings in August 2019.

Implementation status

Implementation status
In operation (production)
[2015] Project abandoned
[2018, current] Startup phase (no production)
Comment on implementation status
Investor has gone bankrupt. The company is restarting operations. Parent company initiated liquidation proceedings in August 2019.

Contract farming

Contract farming
No

Contract #1

Duration of the agreement (in years)
30

Number of total jobs created

Jobs created (total)
Yes
Current number of jobs (total)
1000

Operating company

Operating company

 

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Data source #1

Data source type
Media report
File
Date
2014-10-02
Comment on data source
Indian Rose Exporter Declares Bankruptcy in the Netherlands

Data source #2

Data source type
Media report
File
Comment on data source
Karuturi Global Limited

Data source #3

Data source type
Media report
File
Date
2015-01-18
Comment on data source
Karuturi Ethiopia Has Gone Bankrupt: Said Ethiopia Minister

Data source #4

Data source type
Company sources
File
Comment on data source
Corporate fact sheet

Data source #5

Data source type
Research Paper / Policy Report
File
Comment on data source
Karuturi Global – Don’t crave roses if you can’t grasp thorns OR How a small Indian company is working overtime to transform East African agriculture

Data source #6

Data source type
Media report
Publication title
Karuturi to start afresh in Ethiopia
Date
2018-04-21

Data source #7

Data source type
Company sources
File
Publication title
Intimation of initiation of Corporate Insolvency Resolution Process (CIRP) and appointment of Interim Resolution Professional (RFP)
Date
2019-08-12

Detailed crop, animal and mineral information

Crops area
Flowers (unspecified), Roses

Use of produce

Has export
Yes

Water extraction envisaged

Water extraction envisaged
Yes

Aug. 28, 2019, 10:59 a.m.

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Jan. 24, 2019, 12:59 p.m.

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July 27, 2017, 2:38 p.m.

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July 27, 2017, 2:36 p.m.

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