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Equatorial Palm Oil PLC said on Monday that land development has recommenced at the Palm Bay estate in Liberia.
AIM-listed Equatorial Palm Oil (EPO) said that a moratorium on development in potential high carbon stock (HCS) forest areas has expired after the completion of a study, allowing the joint venture company Liberian Palm Developments Ltd, in which it has a 50 percent interest, to recommence development.
« It is pleasing to recommence land development at Palm Bay estate, not only after detailed HCS assessments but also following a two-year consultation process in which EPO actively engaged with stakeholders to consider all interests relating to oil palm development on our estates, » said Geoffrey Brown, executive director of Equatorial Palm Oil.
Shares in Equatorial Palm Oil were up 5.7% at 1.85 pence Monday. (Source: Alliance News, London).
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