MARKET DEVELOPMENT
Sierra Leone: Golden Veroleum To Invest $1.6B In Salone
Sierra Leone: Golden Veroleum To Invest $1.6B In Salone
21/07/2013 (Awoko) - A delegation from a palm oil production company with operations in Liberia, Golden Veroleum has expressed keen interest in Sierra Leone’s palm oil endowment with a promise to invest US$1.6b in oil palm production in the South and Eastern Regions of the country.
The delegation met with President Koroma and other Government officials at State House yesterday, Wednesday, 19th June 2013 to discuss their business plan.
At a meeting with a cross section of executives of the Sierra Leone Investment and Export Promotion Agency (SLIEPA) at Tower Hill in Freetown, the Executive Director of SLIEPA, Patrick Caulker welcomed the delegation and spoke about the business opportunities available in the country.
He recalled that in 2010 SLIEPA organized a targeted road show in South Africa for potential investors and Golden Veroleum was one of the companies they had interacted with, noting that their arrival in the country demonstrates their commitment and determination to invest in Sierra Leone.
The leader of the delegation and Director of the company, David Rothschild said they are in the country to reinforce their earlier commitment to invest in the country.
He said the company intends to acquire over half a million hectares of land for future development and intends to closely work with locals and relevant government MDAs.
“We would like to establish strong partnerships and relationships with the communities we would be operating in,” Mr. Rothschild said.
He further stated, “We are negotiating from 50 to 60 years lease agreement with the government and locals in the South and Eastern Regions, especially Kenema and Pujehun districts.”
David Rothschild said “our initial investment will focus on building the required Infrastructure on the land for the construction of an oil mill at the company site.”
He also said that the company will also provide support towards community development projects and ensure locals benefits from their operations.
The Head of Research and Environment Department of Gold Veroleum, Nurhussan T. Ibrahim also explained about their cordial relationship with locals and their stakeholders over their investment plans. He also stated that they will also continue to conduct soil testing.
Raymond Gbekie expressed thanks and appreciation to the visiting investors and assured them of government support towards their investments into the country.
The delegation met with President Koroma and other Government officials at State House yesterday, Wednesday, 19th June 2013 to discuss their business plan.
At a meeting with a cross section of executives of the Sierra Leone Investment and Export Promotion Agency (SLIEPA) at Tower Hill in Freetown, the Executive Director of SLIEPA, Patrick Caulker welcomed the delegation and spoke about the business opportunities available in the country.
He recalled that in 2010 SLIEPA organized a targeted road show in South Africa for potential investors and Golden Veroleum was one of the companies they had interacted with, noting that their arrival in the country demonstrates their commitment and determination to invest in Sierra Leone.
The leader of the delegation and Director of the company, David Rothschild said they are in the country to reinforce their earlier commitment to invest in the country.
He said the company intends to acquire over half a million hectares of land for future development and intends to closely work with locals and relevant government MDAs.
“We would like to establish strong partnerships and relationships with the communities we would be operating in,” Mr. Rothschild said.
He further stated, “We are negotiating from 50 to 60 years lease agreement with the government and locals in the South and Eastern Regions, especially Kenema and Pujehun districts.”
David Rothschild said “our initial investment will focus on building the required Infrastructure on the land for the construction of an oil mill at the company site.”
He also said that the company will also provide support towards community development projects and ensure locals benefits from their operations.
The Head of Research and Environment Department of Gold Veroleum, Nurhussan T. Ibrahim also explained about their cordial relationship with locals and their stakeholders over their investment plans. He also stated that they will also continue to conduct soil testing.
Raymond Gbekie expressed thanks and appreciation to the visiting investors and assured them of government support towards their investments into the country.