Arbitration and dispute resolution
In the event of dispute, both parties will do their utmost to resolve the dispute amicably and to their mutual...
Assignment or transfer
Unless 75% of the land is developed, Verdanta Harvests has no right to transfer the land or properties on the...
Cancellation or termination
The Government has the right to terminate the land lease agreement subject to at least 6 months' prior written notice...
Corporate headquarters
H.no 2469, Kebele 03/05, Bole sub city, Addis Ababa, Ethiopia
Date - contract signature
Environmental impact assessment and management plan
Verdanta Harvests has an obligation to conduct an environmental impact assessment and deliver the report within 3 months of execution of agreement
Environmental protections
Verdanta Harvests shall provide good care and conservation of the lease land and its natural resources, with particular obligations to...
Governing law
The governing law for operations under the agreement shall be the laws of Ethiopia
Hardship clause or force majeure
Conditions of force majeure shall be governed by the Ethiopian Civil Code
Income tax: exemptions
The Government undertakes to provide special investment privileges such as exemptions from taxation, import duties of capital goods, and repatriation...
Infrastructure
Verdanta Harvests has the right to build infrastructure such as dams, water boreholes, power houses, irrigation system, roads, bridges, offices,...
Location
Gambela Regional State, Mezhenger Zone, Godere Weredas Gumare and Kabu kebeles
Other - financial/fiscal
More than 50% of the plantation will be for tea, free of any other land rent other than the rent...
Other - miscellaneous
Verdanta Harvests shall not use the land for any purpose beyond the purpose stated in art. 3 (which involves developing...
Other - operational
Verdanta Harvests shall export its tea products from the leased land having an export license as per the Ethiopian export...
Physical security or protection of property
The Government shall ensure that Verdanta Harvests shall, during the period of the lease, enjoy peaceful and trouble free possession...
Renewal or extension of term
The agreement can be renewed for additional years as mutually agreed by the parties. The agreement shall be renewed on...
Reporting requirements
Verdanta Harvests shall provide correct data and investment activity reports upon request by the Government. The Government has the right...
Signatories, State
Tefera Derbew, Minister, Ministry of Agriculture and Rural Development
State agency, national company or ministry executing the document
Ministry of Agriculture and Rural Development
Surface fees or rent
There shall be a 5-year grace period for the land rent, where the rent during this period will be prorated...
Work and investment commitments
Verdanta Harvests is expected to start developing the land within 6 months from the date of execution of the agreement,...
Country
Ethiopia
Signature Year
2010
Resource
Coffee | Eucalyptus | Medicinal plants | Other crops | Tea
Type of Document
Contract
Open Contracting Identifier
ocds-591adf-3822850989
Disclosure Mode
Government
This document has missing annexes
Land Matrix ID
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