News in brief:
â PJS Group plans to inject $25 million into Niger Stateâs agricultural sector in 2024, expanding on existing projects like PJS Agro Farms and Kiara Rice Mills.
â The investment aims to diversify agricultural activities, create jobs, and promote sustainability, focusing on soya/rice bran oil production and a shea butter extraction factory.
Niger Stateâs agricultural sector gears up for a $25 million boost in 2024, courtesy of PJS Group. Building on existing projects like PJS Agro Farms and Kiara Rice Mills, the new investment targets diversification, job creation, and sustainability.
This latest commitment builds upon the groupâs already significant presence in the state, where it has spearheaded different initiatives like the 3,000-hectare PJS Agro Farms Ltd in Swashi village and Africaâs largest rice mill, Kiara Rice Mills Limited in Kpatsuwa village.
The companyâs $25 million funding in 2024 will boost soya/rice bran oil production as well as build a shea butter extraction factory.
PJS Agro Farms Ltd was established with a $15 million investment. The farmâs output aligns with Governor Umaru Bagoâs vision of transforming the stateâs rice sector from subsistence to commercially viable.
In addition, a recent Memorandum of Understanding (MOU) signed at COP28 in Dubai between the Niger State Government and Kiara Rice Mills Limited, further solidifies the commitment. The partnership fosters technical collaboration, access to funding, and co-investment opportunities. It is expected to pave the way for sustainable development and job creation within the agricultural value chain. Kiara Rice Mills Limited itself boasts a $30 million investment and an annual production capacity of 350,000 metric tons of rice.
Additionally, the upcoming Pack-it Packaging Limited highlights PJS Groupâs commitment to supporting Niger Stateâs agricultural ecosystem. With a $5 million investment, Pack-it Packaging Limited will produce 30 million agro sacks annually.
Overall, the $25 million investment by PJS group, will focus on ventures beyond rice. It will also target creating value by processing raw materials into marketable products. The overall aim is to create jobs, while transferring technology to promote sustainable practices.
