Second Indian Company Purchases Key Uganda Tea Estate

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A second Indian company has made its way into the Ugandan tea sector, with the intent to purchase 100 percent ownership of Kijura Tea Company. Kijura Tea Company was set up as a factory in 1939 by colonial agriculturalist, Hugh Naylor. A statement from Jay Shree Tea and Industries says the purchase of Kijura Tea Company in Fort Portal will be made through its investment arm, Birla Holdings Dubai. The purchase of the company that produces 1.2 million kilograms of high quality tea will cost about 258,000 dollars. According to the statement, Jay Shree Tea and Industries also plans to buy 60 percent of the Rwanda-based Mata Tea and Gisakura Tea. Jay Shree Tea will convene a meeting tomorrow to approve the acquisitions. In December last year, McLeod Russel India had acquired six tea estates in Uganda from James Finlay Limited. James Finlay produces 15 million kilograms of tea annually.

 

Tagged with: tea foreign investment

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