[17], In February 2011, Al Amoudi acquired 69% of Ethiopia's sole tyre manufacturer Addis Tyre[18] and he has a substantial investment in cement production through Durba Midroc which was founded in 2008. Community See All. [37][38] He funded a breast cancer research centre at King Abdulaziz University. Mr. Al Amoudi’s net worth as listed on Forbes: 2004 = $1.4 billion [27], In September 2011, in response to an appeal from Prime Minister Meles Zenawi for popular support for the financing of the Renaissance Dam in North West Ethiopia which will triple the country's hydro-electric power, Al Amoudi pledged a donation of 1.5bn birr (around US$88m).[28]. [1] He grew up in Ethiopia, before emigrating to Saudi Arabia with his brother Mauricet and becoming a Saudi citizen. Mohammed Al Amoudi’s journey to wealth began when he struck governemnt deals in oil-rich Saudi Arabia. He began investing in Sweden in the 1970s and now has interests across Saudi Arabia and Ethiopia. [29][30][31][32][33][34][35][36] Al-Amoudi had not been seen since his arrest and captivity. [22] The company had reportedly purchased $80 million in equipment from Caterpillar Inc.[24], In August 2011, President Girma Wolde-Giorgis of Ethiopia stated that “a substantial investment in agricultural development was key to improving the quality of life across Africa” and that Saudi Star's investment programme would benefit both Ethiopia and its important trading partner, Saudi Arabia. And he is known as “Sheikh Mo” in the Clintons’ circle. He is in good health and was not mistreated. He has shown a particular commitment to Saudi Arabia, to Africa and to Sweden. He employs over 70,000 people through these companies. Though now a Saudi citizen, Al-Amoudi still has close ties to Ethiopia through his company consortium Mohammed International Development Research and Organization Companies (MIDROC). Last week Bloomberg reported that Al Amoudi will be facing trial in a Saudi court on a date yet to be confirmed. Al Amoudi knew enough of vice to silence every community leader by handing out fat cash. Ethiopian Prime Minister Abiy Ahmed had tried to secure his release, but was unsuccessful. His philanthropic endeavours have focused among other causes on health and sports, including funding for a breast cancer research centre at a university in Saudi Arabia. [22] In March 2011, Saudi Star announced a further investment of $2.5 billion in Ethiopian rice projects. Forbes downgraded his net worth earlier this month to $1.2bn “due to a lack of clarity about which assets he still owns”. Amoudi replaces Sulaiman al-Hamdan, who has been named as the minister for civil service. A family office spokesman told Reuters that Amoudi had returned to his home in the western city of Jeddah. [42], Al Amoudi sponsored the CECAFA Cup, Africa's oldest football cup competition, in 2005 and 2006, the tournament was named the Al Amoudi Senior Challenge Cup as a result in those years. [1] He was also listed as Ethiopia's richest man, the second richest Saudi Arabian citizen in the world and the second richest person of African descent in the world. Guess what? In 2013, Al Amoudi has added one billion to his wealth, according to Forbes List. According to Forbes, as at 2016, his net worth was approximately $10.9 billion. Since his arrest, Al Amoudi’s net worth has climbed by six percent, according to the Index. Mohammed Al-Amoudi. WASHINGTON - Sheikh Mohammed Hussein al-Amoudi is a billionaire, and by most estimates, one of the richest African-born people in the world. He is the largest investor in Ethiopia individually. Allegations against those detained included money laundering, bribery, and extorting officials. Amoudi was detained at Riyadh’s Ritz-Carlton hotel in November 2017 along with dozens of princes, officials and businessmen after MBS launched his so-called “anti-corruption purge”. Al-Amoudi Trading Est. Local Business in Riyadh, Saudi Arabia. He began investing in Sweden in the 1970s and now has interests across Saudi Arabia and Ethiopia. [14] Midroc Gold is Ethiopia's sole gold exporter. Experts have noted that the arrests were a way for MBS to consolidate economic, as well as political, power in Saudi Arabia. Of the 2,295 hectares (5,670 acres) of land acquired by Ethio Agri-CEFT (which he owns) in the Sheka Zone of Ethiopia, it has only covered 1,010 hectares with coffee and shade trees, with the rest remaining as natural vegetation. [49], Al Amoudi has been ranked among the 100 richest people by Forbes since 2006, being ranking 82nd on the list in 2015. The Court of Appeal has rejected a couple's claim that Sara Al Amoudi, who claims she is the 33-year-old daughter of a Saudi billionaire, duped them into signing over six flats in London’s West End. Al-Amoudi was … However, his businesses in Ethiopia have faced challenges recently. Such questions continue to swirl as al Amoudi’s fate in the Ha’ir Prisons, just south of Riyadh, remains unknown, now more than a year after what amounts to his kidnapping and incarceration. [2] In 2016, his net worth was estimated by Forbes at approximately $10.9 billion and a relative fall in net value was linked to the global fall in oil and gold prices at the time of estimation. 5. [40] He also fully funded the King Abdullah Institute for Nanotechnology at King Saud University. According to the BBC, Al Amoudi splits his residence between central London, Surrey and Saudi Arabia. [10], Al Amoudi has invested in Ethiopia since the mid-1980s. [43] He also supports Ethiopian Premier League Club Saint George S.C.[44] and covered the medical expenses of one of Ethiopia's most celebrated footballers, Mengistu Worku,[45] before his death in December 2010. Local Business. [52] They have eight children. The Saudi tyrant Prince Salman demands several billions of Al Amoudi’s money including some jail time. Al Amoudi, is "still alive" and will stand trial at some point for corruption and bribery, according to a Saudi official, who asked not to be identified. It is unclear how much, if any, of Amoudi’s wealth he may have handed over to the state in exchange for his release. The Saudi authorities did not immediately respond to a request for comment. Dr. Arega has been the third powerful person in the MIDROC Technology Group management ladder. Amoudi was detained at Riyadh’s … Ethiopian Prime Minister Abiy Ahmed confirmed Amoudi’s release on Twitter on Sunday, saying he had raised the issue with Crown Prince Mohammed bin Salman (MBS) during a trip to Riyadh last May. now the Second Hijra will be when Al Amoudi tell those 38 billion to come to Ethiopia this means 3 trillion dollar in flow. [47], In December 2010 Al Amoudi initiated a claim in the English High Court against Elias Kifle of the Washington, D.C.-based Ethiopian Review claiming damages for libel. 24 check-ins. Even after 9-11 when the al Amoudi – Bin Laden – al Qaeda link was exposed, al Amoudi (and bin Mahfouz) continued on their merry way collaborating – along with key elements of the George W. Bush administration in Central Asia. ”He (Al-Amoudi) live and have health, his life is comfortable, he is not in prison as the said word of mouth. MIDROC acquired Yanbu Steel in Saudi Arabia in 2000. Sulaiman Abdulfattah bin Sulaiman Mashat was appointed as deputy minister of Hajj and Umrah. Saudi-Ethiopian billionaire Mohammed Al Amoudi is in the custody of authorities and has been charged with corruption and bribery, a Saudi official said on Thursday — more than a year after the tycoon was held in the kingdom’s controversial anti-corruption campaign. M. Brisard had made serious and unwarranted allegations concerning engagement in the funding of terrorism in the wake of 9/11 but had subsequently apologised for the accusation. This website … A family office spokesman told Reuters that Amoudi had returned to his home in the western city of Jeddah. Amoudi’s release follows that of several other businessmen last week and comes after the kingdom suffered a global backlash over the murder of journalist Jamal Khashoggi and the reported torture of women activists. Saudi Arabia’s Attorney General Sheikh Saud al-Mojeb said last January that the kingdom had seized more than $100bn in anti-corruption settlements. [5], In addition to his business interests in Ethiopia, he also owns oil refineries in Morocco and Sweden (Svenska Petroleum Exploration AB) and is engaged in energy exploration and production off West Africa and elsewhere. Sheik Al-Amoudi appeared on the seen in 1991 when Eritrea achieved independence and when Eritrea handed Tigray Peoples Liberation Front … This latter is Ethiopia's first industrial steel production plant and in intended to meet a major increase in domestic demand, estimated to rise from 1.2m tonnes to 3.1m tonnes per annum between 2011 and 2014. [50], Al Amoudi was honoured for his achievements in economics and philanthropy at the 19th Arab Economic Forum Summit in 2011, with special reference to his commitment to sustainable development.[51]. In 2016, his net worth was estimated by Forbesat approximately $10.9 billion and a relative fall in net value was linked to the global fall in oil and gold prices at the time of estimation. Mohammed Hussein Ali Al-'Amoudi (Amharic: ሙሀመድ አልዐሙዲ, Arabic: محمد حسين علي العمودي‎) is an Ethiopian-Saudi billionaire businessman. Mohammed Al Amoudi has been released from detention and is now in Jeddah with his family. His businesses include MIDROC Ethiopia, MIDROC Europe and Preem Petroleum amongst others. Sheik Mohamed Al Amoudi Arrest in Saudia and its Implications to Ethiopia. [39], In 2008, Al Amoudi funded King Saud University's an enhanced oil recovery research chair. Ethiopian-born Saudi billionaire Mohammed Al-Amoudi is among dozens of investors who have had their land leases in Addis Ababa … Zhang Zhidong – Family, Family Tree. Most were freed after reaching settlement deals with the government, including Saudi businessman and billionaire Prince Alwaleed bin Talal. [20][21] In July 2011, it was announced that the Ethiopian Electric Power Company [EEPco] would provide the Derba cement plant with 50 MW of electricity. [11], He has gold mining interests in Ethiopia[12][13] and it is reported that MIDROC Gold Mine (a subsidiary of MIDROC Ethiopia) has paid the Ethiopian Government 100.1 million birr in royalties, the largest contribution of any mining company. Saad bin Moqbil Almaimooni was appointed as governor of Taif. Amanuel Biedemariam Over the years, particularly from 1991 until now, one of the key players that helped shape the political dynamics of the region is Mohammad al-Amoudi. He began making money with construction projects in Saudi Arabia. [48], The Ethiopian Review had also repeated unwarranted material relating to his family and to matters previously dealt with in the Al Amoudi v. Brisard case of 2005. [1], Al Amoudi owns a broad portfolio of businesses in construction, energy, agriculture, mining, hotels, healthcare and manufacturing amongst others. Finally, he was released on January 27, 2019 after 14 months of detention. ", "Factbox: Saudi Arabia detains princes, ministers in anti-corruption probe", "Saudi Arabia arrests 11 princes, 38 ministers in corruption probe", "Saudi Arabia princes detained, ministers dismissed", "Future Saudi king tightens grip on power with arrests including Prince Alwaleed", "Billionaire Saudi Prince Alwaleed Bin Talal arrested in corruption crackdown", "Saudi Princes, Former Ministers Arrested in Apparent Power Consolidation", "Saudi Arabia Arrests 11 Princes, Including Billionaire Alwaleed bin Talal", "Official Web Site - Sheikh Al Amoudi | Authorized & Official", "Fact-checking donations to the Clinton foundation", "allAfrica.com: Rwanda: Challenge Cup Preps on Course - Musonye", "Ethiopia Football: Can Giuseppe Dossena end Saint George's Misery? He has shown a particular commitment to Saudi Arabia, to Africa and to Sweden. Sheik Mohammed Al Amoudi is in 65th place, with recorded net worth of $13.5 billion. He was born to a father of Hadhrami Yemeni origin and an Ethiopian mother of Wollo Amhara descent. He is fascinated by the space, and he dreams of sending an Ethiopian in the space! [6] His Addis Ababa Sheraton is said to be among the finest hotels in Africa. [26] In 2011, he donated 10 million birr (US$500k) to the proposed Ethiopian National Coffee Museum in Ethiopia's Kaffa Zone. He is reported to have donated between US$5m and US$10m to the foundation. He hit the jackpot with gold in Ethiopia and has been mining gold for … Omar Abdulrahman Ahmed Al Raqi Al Amoudi - Profil, statistiques, histoire :: Live Soccer TV The crackdown was in response to “exploitation by some of the weak souls who have put their own interests above the public interest, in order to illicitly accrue money,” a royal decree at the time said. 272 people follow this. [19] His major cement plant near Chancho was backed in part by the World Bank's International Finance Corporation. He was born in Ethiopia in 1946 to a Hadhrami father and an Ethiopian mother. Now, at last, comes the answer. His businesses are largely to be found within two conglomerate holding and operating companies, Corral Petroleum Holdings and MIDROC, both which he owns and manages. He has met with his senior management and other business associates. According to a Forbes report last year, his net worth was estimated to be $10.9bn. Not Now. Economic profiteering fuelling war in Yemen: UN, Iraq: Anbar’s post-ISIL reconstruction spawns autonomy debate, Fight against extreme poverty helps 92 million people: World Bank, Fish on ships: Frozen imports pile up in globally key China port, Israel military revising operational plans against Iran: General, US judge blocks Biden’s 100-day freeze on deportations, ‘Psychological war’: Iran dismisses Israel military action threat, Eritrean forces should leave Ethiopia’s Tigray immediately: US, Al Jazeera Centre for Public Liberties & Human Rights. About See All. Mohammed Hussein Ali Al-'Amoudi (Amharic: ሙሀመድ አልዐሙዲ, Arabic: محمد حسين علي العمودي‎) is an Ethiopian-Saudi billionaire businessman. Saudi Arabia has freed Saudi-Ethiopian billionaire Mohammed al-Amoudi, more than a year after the tycoon was detained under the kingdom’s controversial anti-corruption campaign. His philanthropy has been focused strongly on education, training and healthcare in Ethiopia. While most of those others targeted have been released – apparently having paid the hefty fine, or is it a ransom of 70% of their assets – al Amoudi remains either imprisoned, or as some suggest – dead as … He owns much of Ethiopia. Since his arrest, Al Amoudi’s net worth has climbed by six percent, according to the Index. Sheikh Mohammed Hussein Ali Al-Amoudi (amharique : ሞሐመድ አልዐሙዲ, arabe : محمد حسين العمودي), né en 1946 à Dessie en Éthiopie, est un homme d'affaires éthiopien (et naturalisé saoudien) résidant à Djeddah.Il possède la 43 e plus grande fortune mondiale en 2009 selon le magazine Forbes [1], la 61 e en 2013 et la 80 e en 2014 [2]. Its Lega Dembi mine has a yearly average production of around 4,500 kg of gold and silver. On 4 November 2017, Mohammed Hussein Al Amoudi was arrested upon the orders of Crown Prince Mohammad Bin Salman (MBS) and held captive in Saudi Arabia in a "corruption crackdown" conducted by Mohammed Bin Salman's "royal anti-corruption" committee. [46] In January 2017, The Sheikh Mohammed Hussein Ali Al-Amoudi Stadium was opened. [47] The Stadium reportedly cost more than $22 million, and took four and a half years to complete. Sheikh Amoudi, the gregarious 71-year-old son of a Yemeni businessman and his Ethiopian wife, was swept up with hundreds of […] Al Amoudi, the Taliban, and The Strategy of the Silk Road… That isn’t the end of it by a long shot. Ethioash, You got it! Mohammed Al Amoudi, son of a Saudi father and an Ethiopian mother, has accumulated a portfolio of construction, agriculture, and energy companies across Sweden, Saudi Arabia and Ethiopia. for Renaissance dam » Ethiopian News - Everything that Happens! [1], It may require cleanup to comply with Wikipedia's content policies, particularly, Learn how and when to remove these template messages, Learn how and when to remove this template message, "Home - Sheikh Al Amoudi | Authorized & Official", "Yanbu Steel Company | Business Excellence Magazine", "KSU mobilizes $500 million for new car company", "Midroc to Get 55% of Saudi Car Plant for $275 Million, SPA Says - Bloomberg Business", "Ethiopia Earns $71.1 Million From Leather Exports", "Ethiopia Aiming to License 50 Mineral Projects Every Year - Bloomberg Business", https://web.archive.org/web/20111103195730/http://www.addisfortune.com/Bidding%20for%201.3m%20tones%20Steel%20Factory%20Sees%20Nine%20Interest.htm, https://web.archive.org/web/20110211104613/http://www.addisfortune.com/Al-Amoudi%E2%80%99s%20Horizon%20Acquires%20Matador-ATC%E2%80%99s%2069pc%20for%20%2418m.htm, "Ethiopian Cement Plants to Double Capacity Amid Building Boom - Bloomberg Business", "Al-Amoudi to invest $2.5b in Ethiopia farm | Business", "Saudi Billionaire Invests in Ethiopian Farms, Fortune Reports", "Ethiopia pledges to work closely with the Kingdom in manpower sector - Arab News", "Ethiopia's Challenge: Balancing Agriculture with Environmental Protection | NewBusinessEthiopia", "Ethiopia: Al-Amoudi pledges 1.5 Billion Br. He is the largest individual foreign investor in Ethiopia and a major investor in Sweden. However, his businesses in Ethiopia have faced challenges recently. In 2011, he pledged 100 million Ethiopian birr for a stadium and access road in Mek'ele. Al-Amoudis relatives have been knäpptysta and the information from the companies he runs have been scant. [4], Al Amoudi's construction company consortium, Mohammed International Development Research and Organization Companies, also known as MIDROC, won a contract to build Saudi Arabia's estimated $30 billion nationwide underground oil storage complex in 1988. [19], The Al Amoudi-owned Saudi Star Agricultural Development Plc plans to develop up to 500,000 hectares (1,200,000 acres) of Ethiopian land for sugar, edible oil, and grain production. The judge found the statements to be untrue and stated that Al Amoudi "is implacably opposed to terrorism in all its forms”. But the gilded life of Sheikh Mohammed Hussein Al Amoudi took a sharp turn in November. Now in his 14th month of detention, Al Amoudi has not appeared in Court. [7], He has recently pledged US$275 million alongside other Saudi and South Korean investors through MIDROC to finance a factory to build Saudi Arabia's first car, to be called Gazal-1, in a project initiated by King Saud University[8][9] and, in September 2011, it was announced that he planned to invest around US$1.07bn (4bn Saudi Riyals) in two major Saudi industrial projects (phosphate derivatives and sulfur) in Ras Al-Khair [Eastern Region] and Jubail Industrial City respectively. He supplies coffee to Starbucks. Among those transferred to the maximum security prison is Mohammed Hussein Al-Amoudi whose worth is 10.6 Billion dollars and owns businesses in hundreds of millions of dollars in Ethiopia. Amoudi, who was born in Ethiopia to a Yemeni father and an Ethiopian mother, owns a broad portfolio of businesses in construction, energy, agriculture, mining, hotels, healthcare and manufacturing. Isam bin Hamad bin Ali … Mohammed Al Amoudi now owns massive assets in Ethiopia. In 2011 it made 1.4bn birr (US$70m) of profits. He later progressed to investing massively in Ethiopia. His businesses include MIDROC Ethiopia, MIDROC Europe and Preem Petroleum amongst others. Price Range $$$$ Page Transparency See More. Agazy November 9, 2017 at 12:18 PM. [15], He owns 70% of National Oil Ethiopia, which competes with YBF, TAF OIL and five other companies in the national petrol market[16] and is establishing a steel plant (Tossa) in Amhara. During Al Amoudi’s long detention, rumors spread among Saudi Arabia’s business elite that he […] He was also listed as Ethiopia's richest man, the second richest Saudi Arabian citizen in the world and the second richest pers… Saudi Arabia will soon release Mohammed Hussein Al Amoudi, an Ethiopian-born Saudi billionaire arrested in November during a crackdown on corruption, Ethiopia’s prime minister said. 5 out of 5 stars. His businesses remain independently managed and continue to follow the vision and strategy laid out by Mohammed. Last week Bloomberg reported that Al Amoudi will be facing trial in a Saudi court on a date yet to be confirmed. Mohammed Al-Amoudis international spokesperson Tim Pendry a brief statement on the Al-Amoudis website. Mohammed Hussein Al Amoudi is a globally successful international entrepreneur, businessman and philanthropist. Al Amoudi informed Dr. Arega of his decision that he is relieved of his duty as of April 27, 2020, through a letter. Al Amoudi is the third-richest billionaire in the Middle East, with a fortune valued at $8.8 billion, according to data compiled by Bloomberg. 264 people like this. [25], Al Amoudi also owns land used to produce coffee. In July 2011 Kifle was ordered to pay £175,000 in damages for publishing false information. He was born in Ethiopia in 1946 to a Yemeni father and an Ethiopian mother. Al Amoudi is an Ethiopian – born business man who holds both Saudi and Ethiopian nationality. [1] He was awarded an honorary doctorate from Addis Ababa University and has been honoured with the Order of the Polar Star by King Carl XVI Gustaf of Sweden. [3] Al Amoudi made his fortune in construction and real estate before branching out to buy oil refineries in Sweden and Morocco. Mohammed Hussein Al Amoudi is a globally successful international entrepreneur, businessman and philanthropist. Landscape in the environs of Addis Ababa, Ethiopia. [48] He is married to Soniat Saleh Selassie Al Amoudi, an Ethiopian and shareholder of MIDROC Construction. He works closely with the TPLF oligarchy that granted him thousands of hectares of agricultural land and several prime plots in the capital Addis Ababa. He began making money with construction projects in … The letter sent to Dr. Arega alleges that he “is reluctant to make major decisions” and, that is creating constant disagreement with the owner of the company. He now has business interests there, largely operated through MIDROC Ethiopia which was created in 1994. A self-made billionaire, Mohammed Al Amoudi has a portfolio ranging from energy and construction to agriculture. Now in his 14th month of detention, Al Amoudi has not appeared in Court. ", "Ethiopia Football: Legendary Player & Coach Mengistu Worku returns home", "Ethiopia Football: Sheikh Al Amoudi donates 100 million birr for Mekelle Stadium & road project", "Sheikh Mohammed Al-Amoudi Stadium to be Inaugurated on January 14", "Ethiopian billionaire wins libel action in UK", "Count the readers before suing for internet libel", "Saudi Investor Honored At Economic Forum | MIDROC Ethiopia Technology Group", "allAfrica.com: Ethiopia: Midroc Replaces Shimeles", https://en.wikipedia.org/w/index.php?title=Mohammed_Hussein_Al_Amoudi&oldid=994541549, Saudi Arabian people of Ethiopian descent, Articles with dead external links from August 2015, BLP articles lacking sources from August 2015, Wikipedia articles with possible conflicts of interest from January 2012, Articles with multiple maintenance issues, Articles containing Amharic-language text, Creative Commons Attribution-ShareAlike License, This page was last edited on 16 December 2020, at 06:54. Interestingly, he supplies coffee [ ing and energy companies, so is known for ; Home - Mohammed Hussein Al Amoudi Authorized & Officia . Al Amoudi was born in the north-central Ethiopian city of Dessie and brought up in the nearby town of Weldiya. [23] Some 10,000 hectares have been taken up in 60-year leases and the company plans to rent an additional 290,000 hectares. arafat (7,408.14 mi) Riyadh, Saudi Arabia, Get Directions +966 50 228 8698. Prior to being the president of the Saudi Ports Authority, Amoudi held various posts at state oil giant Saudi Aramco. Al Amoudi has committed funds to support healthcare and sport in Saudi Arabia, the US, Europe and Africa. The tycoon, who had a net worth estimated to be $10.9bn, was detained as part of ‘anti-corruption purge’ in 2017. Ms Ali, who is originally Ethiopian but now works in Battersea, claims to have met Al Amoudi in 1985. [41], Al Amoudi was named as one of the William J. Clinton Foundation Donors, according to information released as part of an obligation placed on former President Clinton when he supported Hillary Clinton's nomination as Secretary of State. His business activities concentrate on oil and diverse investments in Ethiopia, Morocco, Sweden and West Africa. In the end, Al Amoudi milked our country on profit-sharing deal with Tplf, goes back to his country. The Saudi Ports Authority, Amoudi held various posts at state oil giant Saudi Aramco Get Directions +966 50 8698! 40 ] he funded a breast cancer research centre at King Saud 's! Months of detention, Al Amoudi has added one billion to his country took a sharp turn in November Ethiopia! In a Saudi court on a date yet to be $ 10.9bn the judge found the statements to be.... Gold and silver and philanthropist was unsuccessful [ 37 ] [ 38 ] he also funded... Most were freed after reaching settlement deals with the government, including Saudi businessman and Prince... 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Have donated between US $ 70m ) of profits and sport in Saudi.. Making money with construction projects in Saudi Arabia ’ s net worth has climbed by six,! +966 50 228 8698 Yemeni father and an Ethiopian and shareholder of MIDROC construction Forbes, as as! King Abdullah Institute for Nanotechnology at King Abdulaziz University محمد حسين علي العمودي‎ ) an! Some jail time and billionaire Prince Alwaleed bin Talal be among the finest hotels in.. Among the finest hotels in Africa in construction and real estate before branching out buy... On January 27, 2019 after 14 months of detention Battersea, claims to have met Amoudi! Years to complete Transparency See more 10,000 hectares have been knäpptysta and the information from companies...