Equatorial Palm Oil Reports Progress With Palm Oil Mill Construction

6th Mar 2018 14:06

LONDON (Alliance News) - Equatorial Palm Oil PLC said Tuesday that the Palm Oil Mill is currently under construction at the Palm Bay Estate in Liberia in a modular fashion, with two lines of 30 metric tonnes per hour planned.

The construction of the first module is progressing well, with commissioning expected in the third quarter of 2018. The first shipment of crude palm oil is expected to take place in the final quarter of 2018.

The mill will include a kernel crushing plant and biogas plant which is set to be completed in the third quarter, with the kernel plant having a capacity of 10 metric tonnes per day.

In addition, the biogas plant will capture methane from the palm oil mill effluent to generate electricity for use in the mill and surrounding office and renewable buildings.

In addition, the Liberian government approvals for construction of the bulking station have been obtained, and is expected to be completed in the third quarter.

Equatorial Palm Oil also said that it has continued work at both the Palm Bay and Butaw estates to tend to the already 7,900 hectares planted since 2011, and with further land development awaiting the conclusion of certain assessments and consents, it is unlikely that any further land development will take place during the rest of the company's financial year to the end of September.

"The commissioning of the new POM in the third quarter of 2018 will be a significant milestone for EPO and for the re-development of the palm oil industry in Liberia. Working with the newly elected government of President George Manneh Weah and key stakeholders, we shall look to progress a sustainable palm oil operation in Liberia as the region represents a major opportunity to create a key, new global supply hub for seaborne export to international markets," said Executive Director Geoffrey Brown.

Shares in Equatorial Palm Oil were up 6.1% at 2.60 pence on Tuesday.

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