18th Aug 2015 06:54
LONDON (Alliance News) - DekelOil PLC Tuesday said it has been accepted as an approved supplier to the World Bank-backed Projet d'Appui au Secteur de l'Agriculture de Côte d'Ivoire project, which aims to support and improve the palm oil industry in Ivory Coast.
PSAC aims to plant 10,000 hectares of palm oil plantations in Ivory Coast and plans to establish a pilot zone in DekelOil's operating region in 2015 to improve the quality of the roads and provide 5,000 hectares of land suitable for palm oil for smallholder operations.
Under the agreement, PSAC will subsidise half of DekelOil's costs associated with preparing nursery plants for sale to smallholders. DekelOil said it will allocate 140,000 plants grown at its nursery in Ayenouan in 2015 and 420,000 plants in 2016, and anticipates that the smallholders will become new trading partners as they come into production of fresh fruit bunches in three years' time.
"DekelOil is the first to sign up to this programme in Cote d'Ivoire, and we are pleased to be working in partnership with the World Bank and IFC to expand the local palm oil industry, which supports thousands of local small holders, communities and families," Director Lincoln Moore said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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