Deal #7654

The group has been granted the right to farm 60,000 ha of arable land (MOU only). Measures for the demarcation of the 60,000ha have already been taken by December 2020.

The Memorandum of Understanding stipulates that the operation will produce rice, maize, wheat, soybeans, cape peas and groundnuts

The contribution of the Malagasy State relates to the “provision” of the land in the form of a “loan” and the Elite Agro LLC group is in charge of the development. They will bring the technology, the expertise, the material means and the government makes the land available - which belongs to it.

The Memorandum of Understanding has been signed. The project will initially be tested for one year, before signing a final contract. The one-year pilot project is to be launched during the year. The Malagasy Minister of Agriculture and Livestock held a press conference on 10 October 2022 regarding investors in Bas-Mangoky in southwestern Madagascar. According to media reports, he announced that the project to exploit 60,000 ha is "suspended". The investors would like the Malagasy state to “put in place the facilities necessary for their establishment on the site” and “commit to certain development projects” which “is currently the case", the Minister was quick to point out, mentioning “pedological studies” underway to find out about the soil structure.''

The project will initially be tested for one year, before signing a final contract.