Arq - The Hyper Intelligent Investment Engine By Angel Broking

ACIL Cotton Industries announces overseas business expansion

The board of ACIL Cotton Industries has decided to setup subsidiaries in Congo, Ethiopia and Brazil to start agriculture farming. The company will appoint consultant for feasibility report of agriculture business in Ethiopia, Congo and Brazil.

The company is planning to start contract farming of crops include coffee, pulses, oilseeds, cereals, potatoes, sugarcane, and vegetables on leasehold agriculture land in these Countries. The company expecting the potential for large profits is so great that it plans to invest nearly $15 million in its in Congo, Ethiopia, and Brazil agricultural operations.

The company made this announcement during the trading hours today, 06 January 2011.

Powered by Capital Market - Live News