This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/world/africa/7952628.stm
The article has changed 4 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Madagascar leader axes land deal | Madagascar leader axes land deal |
| (about 2 hours later) | |
| Madagascar's new leader has cancelled a controversial deal for a South Korean firm to lease a vast tract of land to grow food crops. | Madagascar's new leader has cancelled a controversial deal for a South Korean firm to lease a vast tract of land to grow food crops. |
| Andry Rajoelina said he was axing the deal because the people should be consulted. Daewoo Logistics has reportedly expressed its frustration. | Andry Rajoelina said he was axing the deal because the people should be consulted. Daewoo Logistics has reportedly expressed its frustration. |
| Mr Rajoelina had been heavily critical of the plan announced last year. | Mr Rajoelina had been heavily critical of the plan announced last year. |
| The deal had helped fuel popular anger against President Marc Ravalomanana, who was forced from office on Tuesday. | The deal had helped fuel popular anger against President Marc Ravalomanana, who was forced from office on Tuesday. |
| Correspondents say Malagasy people have deep ties to their land and some it the deal as "neo-colonialism". | |
| Widespread protests had already slowed down progress on the deal, which would have used about half of Madagascar's arable land. | |
| The South Korean industrial giant had sought to produce corn and palm oil on 1.3m hectares (3.2m acres), in one of the biggest deals involving foreign firms seeking to secure African farmland since food prices soared last year. | The South Korean industrial giant had sought to produce corn and palm oil on 1.3m hectares (3.2m acres), in one of the biggest deals involving foreign firms seeking to secure African farmland since food prices soared last year. |
| "In the constitution, it is stipulated that Madagascar's land is neither for sale nor for rent, so the agreement with Daewoo is cancelled," Mr Rajoelina told reporters. | "In the constitution, it is stipulated that Madagascar's land is neither for sale nor for rent, so the agreement with Daewoo is cancelled," Mr Rajoelina told reporters. |
| "We are not against the idea of working with investors, but if we want to sell or rent out land, we have to change the constitution, you have to consult the people. So at this hour the deal is cancelled." | "We are not against the idea of working with investors, but if we want to sell or rent out land, we have to change the constitution, you have to consult the people. So at this hour the deal is cancelled." |
| Daewoo's long-term aim was to replace more than half the corn that South Korea, the world's third-largest corn buyer, imports, mainly from the US and South America. | Daewoo's long-term aim was to replace more than half the corn that South Korea, the world's third-largest corn buyer, imports, mainly from the US and South America. |
| Expressing frustration, Shin Dong-Hyun, who oversees the deal for Daewoo Logistics, told Yonhap news agency: "Already we have invested not a small amount in Madagascar. | Expressing frustration, Shin Dong-Hyun, who oversees the deal for Daewoo Logistics, told Yonhap news agency: "Already we have invested not a small amount in Madagascar. |
| "We are just waiting and watching this situation to see whether to retreat." | "We are just waiting and watching this situation to see whether to retreat." |