Yaounde, Cameroon Africa. (Cameroon News) — The Sud Cameroun Hevéa S.A, a new rubber company wants to set up plantations in Dja et Lobo Division of the South Region of Cameroon in over 45,200 hectares.

The company’s Director General, Jean Marc Seyman and Cameroon’s new Minister of Economy, Planning and Regional Development, Emmanuel Nganou Djoumessi on December 13, 2011 in the capital city, Yaoundé signed the establishment agreement.

Jean Marc Seyman disclosed that the company plans to invest over FCFA 203 billion, stating that the project will create some 9,000 jobs in the rubber and oil palm sectors.

He further said that over 60,000 tonnes of rubber will be produced.

“We will set up a processing unit on the spot as soon as the rubber starts to produce some five to six years from now”, the Director General of the company said and added that, “local farmers would have to bring their rubber to the unit to be processed”.

The company also intends to buy the produce from farmers at world prices, Mr Seyman said, stating that they want to help local farmers set up plantations to cultivate food crops for consumption and for sale.

Sud Cameroun Hevéa, is a Cameroon-based company. 80 percent of its share capital is owned by the Singapore Group GMG and 20 percent by Cameroonians. It will produce rubber and oil palm oil.

The rubber company comes to add to HEVECAM, based in the Ocean Division of the South Region and rubber plantations owned by the Cameroon Development Corporation (CDC) based in the South West Region.v