New Delhi: Indian irrigation and agricultural firm Jain Irrigation Systems Ltd (JISL) Monday said it plans to spend $375 million (around Rs 20 billion) over the next few years to build sustainable agriculture and improve income of small and marginal farmers in African counties, including Nigeria, Kenya and Rawanda.
"JISL has committed investment and projects of $375 million over the next few years to build sustainable agriculture and to improve income of small holder farmers in sub-Saharan Africa," Jain Irrigation said in a filing to the stock exchanges.
In the statement, the company said it "has agreed to partner with G-8 and various African nations to invest in Africa on the occasion of 'New Alliance for Food Security in Africa' symposium held on May 18 at Ronald Reagan Building, Washington DC".
Further, the company said it will join hands with the governments of Kenya, Rwanda, Ethiopia, Mozambique, Tanzania, Ghana, Cote d'lvoire, Burkina Faso, Nigeria and others.
"In the next few months, Jain Irrigation plans to work closely with partner countries and G-8's initiative 'The New Alliance for Food and Nutrition Security in Africa' to select priority value chains and regional locations to develop a feasibility study for the integrated approach," the company said.
Jain Irrigation, one the largest drip irrigation companies in the world, plans to launch significant African expansion program that aims to offer an integrated set of irrigation and infrastructure solutions for small-holder and commercial farmers.
The company also plans to inject money to create storage, handling, supply chain and processing infrastructure in the African countries, it said.
Jain Irrigation is India-focused agri-business company that offers irrigation systems and components, piping systems, plastic sheets and agro processed products , among other farm products. The company has presence in 120 countries.