14/12/2011 (TODAYonline) - A unit of Singapore-listed GMG Global has struck a US$410 million (S$535 million) deal with Cameroon's government to develop 45,200 ha of palm oil and rubber plantations, officials said on Monday.

Sud Cameroun Hevea, 80-per-cent-owned by GMG, said the plantations in Cameroon's South region should become fully operational within four years, with production aimed at the export market.

Rubber and palm oil are significant export crops from Cameroon, central Africa's largest economy. Annual production of the two crops is currently estimated at 60,000 tonnes and 175,000 tonnes, respectively.

No details on planned production from the new plantations were given. Reuters