06/04/2011 (Bloomberg) - Olam International Ltd., a Singapore-based farm commodities trader, will invest 413 billion CFA francs ($890 million) in a palm oil project in Gabon, the African nation’s Ministry of Agriculture said.

The company plans to produce 280,000 metric tons of palm oil in the first phase of the project, the Libreville-based ministry said in an e-mailed statement yesterday. The first phase will start in October with a second phase in 2013, it said.