Malaysia Invest 744 Million Dollars to Set Up Palm Oil Project in Congo
President Sassou attended the project startup ceremony of Malaysia Company Atama Plantation which set up Elaeis plantation and processing project in Congo on 30 May, This project is located in northern of Congo, YENGOMAMBILI, its area is 180 thousand hectares which across Sango and Basin two provinces. The project will be invested 744 million dollars in first decade, the plantation area of Elaeis is planned to reach 6000 hectares till 2016, and the final goal is 180 thousand hectares. Otherwise, it is planned to set up 9 palm oil processing plants, annual output reach 720 thousand tons palm oil and 120 thousand tons palm kernel oil, and 20 thousand job opportunities.
There are more than 10 countries cultivate Elaeis, the plantation area is more than 5000 thousand hectares. The growth rate of palm oil international demand is almost 8.7% since 1995; accordingly, we can predict that the international consumption will reach 40 million tons till 2020. And now, the palm oil takes up 25% in international vegetable oil market.
As it is reported, the First Session African Palm Oil Meeting will be held in Abidjan, Cote d'ivoire from 11 June to 13 June.
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