President Buhari commissions USD150m Olam International’s feed mill in Kaduna

President Buhari commissions USD150m Olam International’s feed mill in Kaduna

Nigeria’s President, Muhammadu Buhari has commissioned an integrated Feed Mill and Poultry in Chikun Local Government Area of Kaduna State.

This comes after many efforts by Governor of Kaduna State, Mallam Nasir Ahmed El-rufai, to attract more private sector investors to the state, Channelstv reports.

Olam International Ltd., a global commodities trader is consolidating its acquisition of major interest of wheat milling operations in Nigeria. It would be recalled that in April 2016, Olam announced it invested USD150 million to set up two state-of-the-art animal feed mills.

The investment included poultry breeding farms and a hatchery to produce day-old-chicks in Nigeria. The full deal was closed for a total of USD272 million. It is part of the company’s acquisition spree which has seen it expending over USD2 billion worldwide.

Olam started out in Nigeria in 1989 with 2 members of staff. Today, Olam International Ltd is perhaps the world’s largest food commodities traders, is targeting more acquisitions next year after a $2 billion spree since late 2014 involving deals in cocoa, peanuts and wheat.

Olam International is a leading agri-business operating from seed to shelf in 70 countries, supplying food and industrial raw materials to over 23,000 customers worldwide.

It has 70,000 employees and has built a leadership position in many businesses including cocoa, coffee, cashew, rice and cotton.