ADDIS ABABA: Malaysian listed firm DXN Holdings Bhd is planning to set up a mushroom farm in Ethiopia.
The initial investment outlay is 285 million Ethiopian birr (RM89.5 million) for the first of its kind mushroom production facility in the African nation.
The farm will grow various types of mushrooms and produce packed food and other products for the domestic and export markets.
The company plans to develop and cultivate a 60ha mushroom farm around Lake Shala, where it will also set up the mushroom production facility.
DXN group’s Datuk Dr Lim Siow Jin is currently holding talks with officials of the Oromia Investment Commission to lease a plot of land in Shala District, West Arsi Zone, according to Mohammed Ibrahim, the vicecommissioner.
“The company has secured a right to use recourses for mushroom farming in Lake Shala,” Mohammed said.
“The Oromia regional government will also provide the company a 53ha land it requested for setting up a manufacturing plant on lease basis after evaluating the company’s proposal.”
Presently, the company is undertaking a soil survey and sampling at the site it is planning to set up the establishment.
Lake Shala and its surrounding is ideal for mushroom cultivation and farming, a rare investment venture practiced in the country despite the availability of rich resources to do so, according to experts.
The market for mushrooms has continued to grow worldwide due to interest in their culinary, nutritional, and health benefits, according to reports.
DXN group is a multi-level marketing firm known for its Ganoderma business. Its product lines include dietary
supplements, food and beverages, personal care products, household products and water treatment system.