Tanzania's petroleum and edible oil firm Mount Meru Soyco plans to build $15m edible oil plant in Kayonza district in Rwanda.
The plant is expected to lower the Rwanda's reliance on oil imports. Currently, the country imports 99% of edible oil.
The facility, which is scheduled to go onstream in 2013, will produce edible oil from sunflower seed and soy. The by-product, soy and sunflower cake, will also be used as animal feed, reported Allafrica.com.
To grow the soybeans, the company will contract 30,000 local farmers. About 120 staff will be employed in the plant.
Mount Meru Soyco managing director Arvind Mital said this is a major investment for Rwanda as it offers a very significant opportunity for farmers to secure an equitable market for soy and sunflower.
The company will implement the project in partnership with Clinton Hunter Development Initiative, which works in Rwanda and Malawi to launch projects that generate income, increase agricultural productivity, and enable sustainable growth to alleviate poverty.
