New York (HedgeCo.net) – Emerging markets hedge fund company AIM Investments PLC (“AIMI”) has closed a $1 million strategic investment through a private placement with Farm Lands of Guinea, Inc. (“FLGI”l), which controls a quarter of a million acres of underutilized West African agricultural land.
“AIMI’s investment in Farm Lands of Guinea Inc. gives the company and its shareholders exposure to the exciting growth prospects presented by this large-scale agricultural opportunity in West Africa,” Mark Pajak, Chairman oatAIM Investments, said. “FLGI’s program represents a major breakthrough for the democratically-elected government of the Republic of Guinea in their priority plans for food self-sufficiency. The completion of FLGI’s agricultural activities will result in a multi-million dollar inward investment into the Republic of Guinea.”
FLGI through a 90%-owned subsidiary, intends to local put farm land back into production using modern agricultural techniques and practices. Land & Resources currently plans to develop 8,815 hectares in the villages of N’Dema and Konindou to grow maize and soybeans in rotation as a pilot scheme for the development of 98,400 hectares lying to the south and east of Saraya.
Alex Akesson
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