Singapore Investors Seek To Create 200,000 Oil Palms Plantation In Kribi, Cameroon

Yaounde, Cameroon Africa. (Cameroon News) – Investors from the Singapore-based SIVA Group are working with the Cameroon government to set in the long term, over 200,000 hectares of oil palm plantations in the Ocean Division of South Cameroon.

On Sunday, April 17, the officials of SIVA Group led by Dagan Eattanayak, the Project Executors and those of the Cameroon government headed by the Technical Adviser number two in the Ministry of Agriculture and Rural Development, Caroline Mebande , were at Bela Village around the seaside resort town of Kribi to negotiate for first 20,000 hectares of land in which the investors intend to start the plantation in the upcoming three years.

Cameroon Radio Television (CRTV) reports say, negotiations between SIVA Group and Cameroon government started during the Agro-pastoral Show that took place in South Regional capital, Ebolowa in March 2011.

The same reports disclose that government had already made available 5,000 hectares. The company plans to invest a total of FCFA 5 billion in the project that will offer thousands of jobs to Cameroonians.

From Bela, the investors plan to extend the oil palms plantation to other localities of the Ocean Division such as Lokoundje, Lolodorf and Mvengue.

The Singapore-based SIVA Group has to seven to twelve years of experience and exposure to all aspects of international trade of agro commodities with specialization in edible oil.

The Group is involved in the oversees procurement and physical buying of agro commodities like sugar, wheat, rice, edible oil and related products.

The SIVA Group is a subsidiary of BioPalm Energy Limited, a new palm oil producer and exporter born as a response to the growing and urgent global need for sustainable palm oil products and derivatives.

BioPalm is currently acquiring or developing plantations and production mills in West Africa, South America and Asia and is poised to become a powerful integrated global production and crude palm oil distribution network.

Its expansion plans over five years, target a net planted areas of one million hectares, yielding a total of 35 million tons of sustainable produced crude palm oil yearly.