The Government of the Central African Republic (CAR), under the leadership of President Touader, has signed two strategic agreements with the Indian Mahasakthi Group on the development of cassava and sugar cane crops.
The project, valued at more than 800 billion CFA francs, is planned for a duration of 15 years and aims to develop the agribusiness sector, create jobs, and improve infrastructure.
The agreements were signed by the Ministers of Economy and Finance, Richard Filakota and Herve Ndoba, along with Mahasakthi Group President T. Rajkumar.
According to the Minister of Economy, the size of this investment is both historic and significant.
This 15-year project will boost the agribusiness sector, particularly the cultivation and processing of sugarcane and cassava, along with their by-products.
Mahasakthi Group Chairman T. Rajkumar stated, “This is a historic agreement between India and the Central African Republic in the fields of sugarcane, sugar production and cassava cultivation. We are bringing in technology from India to transform sugarcane into sugar, and to develop a full industrial complex that includes sugar cultivation, sugar production, ethanol production, and 60-megawatt co-generation power generation.”
“This is the first time in the history of the CAR that such a large amount has been invested,” said Minister Filakota.
“Close to 5,000 people will be directly employed by the sugar company for sugar production. Around 20,000 more will benefit indirectly through supply, driving, support services, and other auxiliary roles,” he added.
As a multi-million-dollar industrial conglomerate, the Mahasakthi Group has a strong market presence across multiple industries, including textiles, poultry, real estate, renewable energy, precision engineering, trading, dealerships, and premium property development.
