Two Indian companies, Verdanta Harvest Pvh and Shapoorji Pallonji, are set to sign an agreement with Ethiopia's Ministry of Agriculture and Rural Development to rent large areas of land.

Addis Fortune reports the land will be used to grow tea and Pongamia Pinnata, a plant used for biofuel and industrial chemical production.

Verdanta Harvest Pvh received 5,000 hectares of land while Shapoorji Pallonji was allocated 10,000 hectares.

The lease period for both companies will be 20 years or less.