The B K Birla Group-controlled Jay Shree Tea is gearing up to buy three more tea estates in Rwanda, while expanding its footprint in Africa. The company, which has been eyeing tea gardens in the country for long, will participate in the bids for three estates.
The government of Rwanda is likely to invite bids for three of its tea estates in Mulindi, Gisovu and Shagasha soon. The Rwandan government is carrying out privatisation of its tea estates to increase productivity and quality of the crop. In Rwanda, tea gardens are owned by Rwanda?s tea authority, OCIR (Office des Cultures Industrielles du Rwanda), a government organisation. The organisation has enhanced the move to privatise government-owned tea gardens.
Jay Shree Tea managing director DP Maheswari, said, ?We are interested in buying three-four properties in the country. We will participate in the bidding process.? ?I think the Rwandan government will invite the bids soon and the entire process will be over within a few months,? he said.
Earlier, Jay Shree Tea made an attempt to buy tea gardens in Africa but eventually lost out to McLeod Russel India. McLeod bought six tea estates in Uganda with an annual production capacity of 15 million kg from UK-based James Finlay, last December.