INTERNATIONAL - OLAM International invested $150million (R1.95billion) in animal-feed mills and poultry farms in Nigeria as it seeks to boost its agribusiness venture in Africa’s biggest food market by population.
These include bird- and fish-feed mills with the capacity for 360 000 tons each, located in the northern Kaduna and western Kwara states, and a hatchery to produce 1.6million day-old chicks weekly, the global food trader said yesterday in Kaduna.
Feeds produced are estimated to support the production of 8bn eggs and 100m kilograms of poultry a year, the Singapore-based Olam said.
“Our new facilities will invigorate the industry by closing the supply gap in animal feed,” Olam said.
Nigerian President Muhammadu Buhari at the opening welcomed the venture as important for “national growth”.
- BLOOMBERG