NEW DELHI - Dec 22/04 - SNS -- Dividends paid by Oil Palm India Ltd.(OPIL) to the India government reached a record Rs.4.992 million andRs.6.795 million to Kerala Government for 2003-04.

The Union Agriculture Minister Shri Sharad Pawar received the dividenddraft from Shri P. Muhammed Kunhi Master, Chairman and Shri O.V. Joy,Managing Director of Oil Palm India Ltd. The Minister appreciated OPIL forthe fast growth it has achieved both in production and profits in the lastfour years.

The joint venture company between the Government of India and the KeralaGovernment had paid dividend of Rs.2.496 million and Rs.3.397 millionrespectively last year.

The company has plantations in about 3,600 hectares in Kollam district inKerala. Recently OPIL has set up an oil palm seed garden at Thodupuzhaunder the Oil Palm Development Programme.

The Government of India holds 42.36% shares of OPIL and the Government ofKerala, 57.64%. The total paid up share capital of OPIL is Rs.117.876million.