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Amhara State terminates contract with 116 investors

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Added by Admin in Economy
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Amhara State terminates contract with 116 investors

Amhara State Rural Land Administration and Utilization Bureau announced that it has terminated the contracts of 116 investors who were unable to develop in accordance with the agreement.
The investors have been receiving support and monitoring to develop the land they have taken in accordance with the agreement.
According to Tigabu Belay, Director of Rural Land Investment at the Bureau, action has been taken against those who have failed to cultivate the land given to them.
He said more than 19,500 hectares of land seized by the investors has been returned to the land bank.
He said the land was returned to the investors in West Gondar, Awi Nationality Administration and other parts of the region.
He also warned 126 investors who have not properly cultivated their land.
The bureau said it is ready to bid for more than 21,500 hectares of land, including the one that was taken from the investors and transferred to the land bank.
He recalled that more than 18,000 hectares of land was transferred to other developers, who terminated the contract with 74 investors who did not cultivate the land.
Investor Muhalem Shiferaw said they have won a bid to cultivate 1,000 hectares of land in Awi Zone, Jawi Woreda last year.
He said the land was handed over at the end of June and the farmland was in need of time and preparation, but they could not develop it beyond the beginning.
He said they are already importing two dozers and two tractors to cultivate the land with oil and other crops in the coming harvest season.
Another investor, Habte Tilahun, on his part recalled that he planted 180 hectares of soybean, sorghum, sesame and teff in 629 hectares of land in Tegede Woreda of Central Gondar Zone last year.
He said they have been preparing for the upcoming harvest season from the beginning of this month.
According to the Bureau of Rural Land Administration and Utilization, about 191,000 hectares of agricultural land in Amhara State is being cultivated by 488 investors.

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