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Olam International Ltd. (OLAM)’s Mozambique unit will invest $35 million in rice production in the central Zambezia province, independent daily O Pais reported, citing a company official it didn’t identify.

Olam will provide the funds for between five and 10 years to boost a system in the Tewe irrigation scheme that may lead to production of 100,000 tons of rice a year, the Maputo based newspaper said.

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Courtesy: Bloomberg

28th July 2011