18th Feb 2014 09:47
LONDON (Alliance News) - Dekeloil PLC Tuesday said palm oil production at its CPO extraction mill in the Ivory Coast has commenced ahead of schedule.
The palm oil producer said production at its 60 tonnes per hour, 70,000 tonnes per year crude palm oil extraction mill is an integral part of its strategy to build a major, asset-backed West African palm oil company.
The company said construction was completed ahead of schedule and on budget by Malaysian company Modipalm Engineering SDN BHD and following successful testing, commercial production began.
Dekeloil said it now plans to increase its production capability during February in time for peak harvesting season, which is due to commence in March.
The company said that for the whole of 2014 the company expects to produce a minimum of 150,000 tonnes of fruits and a minimum of 35,000 tonnes of crude palm oil, with increased production expected in 2015.
Dekeloil shares were up 15.4% to 1.50 pence, putting it in the top three AIM movers Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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