DuPont to Invest $3 Million in Ethiopia

Monday, 21 May 2012 .DuPont, a US based company, is set to invest more than 3 million US dollars in Ethiopia over the next three years. The company will be investing in seed production and storage facilities as well as developing weed control for wheat farmers and creating a soil information system to deal with limitations in the soil and enhance crop yield.

DuPont is one of a group of US seed, chemical and equipment companies dedicated to invest 150 million US dollars in agricultural products and projects in Africa. The efforts by the group of companies are part of a 3 billion US dollar effort announced by President Barack Obama of the United States.

AGCO, one of the companies in the group, proposes to invest 100 million US dollars to improve farm operations in Ethiopia, Kenya and Ghana as well as other African countries.

The group includes companies from the US, the UK, India, Israel, Switzerland and about 20 companies from Africa which together make up the 3 billion US dollar commitment to for projects to help farmers in the developing countries to improve productivity and build domestic markets.

It is to be remembered that DuPont introduced the asphalt technology, Elvaloy to the Ethiopian market last October. The Asphalt materials previously used in road construction in Ethiopia have failed to withstand the demands made by heavy traffic and weather conditions but Elvaloy has long been in use internationally as an additive to bitumen to help resist deterioration in the asphalt according to DuPont.

Source: Reuters