Indian Luxmi Company to invest over 25 Billion francs in Karongi following the signing of a cooperation agreement on 13 July 2017, between the Ministry of Agriculture and Luxmi Tea Company Ltd.
Speaking after the signing of the agreement, the minister of agriculture and livestock Dr.Mukeshimana Gerardine said that the agreement will be valid for 49 years. At the beginning, this project will take $ 30 million in investment, for a ten-year duration.
Luxmi Tea industry started its operations in 1912; it is famous for making high-quality tea, where it has some tea blend worth US$ 1000 per kg, depending on the quality and originality.
Rwanda Development Board had an active role regarding the coordination of business consultations that culminated in the signing of the final deal.
In regard, RDB pointed out that the project is an important contribution in regard to the promotion of ‘’ ‘’MADE IN RWANDA’’
The Chief Executive officer of RDB, Clare Akamanzi said, “This project will play an important role in the national program of increasing the exports, and through this project, we wish to Rwanda’ flag high through increasing the number of products made in Rwanda.”
The managing Director of Luxmi Tea Company, Rudra Chatterjee said that they are well prepared to work with the government of Rwanda as far as promoting Rwandan’s tea, which is traditional, known for its incomparable taste.
The Director of agricultural exports products NAEB, Ambassador Bill Kayonga reiterated that through this project they intend to process tea amounting to 8-9 tons of tea annually, whereas the anticipated revenues range between 28-30 US$.
This tea will be processed through Rugabano tea factory, and it is expected to positively transform the social welfare of more than 40,000, through employment opportunities they will acquire as a result.
In addition, an agreement has been signed between British Development Fund (DFID) and Woods Foundation Africa, over 6.8 million pounds was offered to be used to help over 7000 tea farmers in Rugabano sector in Karongi.