PAL Equatorial Palm Oil Plc

 

TIDMPAL 
 
RNS Number : 4784Q 
Equatorial Palm Oil plc 
04 August 2010 
 

    Equatorial Palm Oil plc / Index: AIM / Epic: PAL / Sector: Food Producers 
4 August 2010 
                Equatorial Palm Oil plc ('EPO' or 'the Company') 
                      Delivery of palm oil processing mill 
 
Equatorial Palm Oil plc, the AIM listed, Liberian focussed, sustainable oil palm 
plantation developer, is pleased to announce the Company's first palm oil 
processing mill has been delivered on schedule at EPO's Palm Bay Plantation 
('Palm Bay').  The mill, which was manufactured by Modipalm Engineering Sdn. 
Bhd., a leading Malaysian manufacturer of palm oil mills, is being constructed 
over the next few months by a specialised team of engineers who will then remain 
on site to oversee an active training programme to ensure that production of 
Crude Palm Oil ('CPO') is optimised.  Production of CPO is targeted to commence 
in Q4 2010 and will provide early stage cashflow to assist in the development of 
the Company's circa. 169,000 hectare land position in Liberia. 
 
Once fully functional, the mill will be able to process five tonnes of fresh 
fruit bunches per hour.  These bunches will be obtained from existing oil palms 
at Palm Bay, where reactivation of 3,000 hectares of plantation is underway, as 
well as from local out growers. 
 
EPO Chairman Michael Frayne said, "Delivery of our first, and currently 
Liberia's only commercial palm oil processing mill, marks another key milestone 
in EPO's development plans to become CPO producers by the end of 2010.  Revenue 
from this initial production will contribute to funding our development 
programme, which is already well underway, with batches of oil palm seeds now 
arriving each month at our nurseries to coincide with the planned planting 
schedule." 
 
                                  * * ENDS * * 
 
 For further information please visit www.epoil.co.uk, www.modipalm.com.my, or 
contact: 
+--------------+---------------------------+-------------------+ 
| Michael      | Equatorial Palm Oil plc   | Tel: 020 7766     | 
| Frayne       |                           | 7555              | 
+--------------+---------------------------+-------------------+ 
| Peter Krens  | Mirabaud Securities LLP   | Tel: 020 7484     | 
|              |                           | 3510              | 
+--------------+---------------------------+-------------------+ 
| Pascal Keane | Shore Capital & Corporate | Tel: 020 7408     | 
|              | Limited                   | 4090              | 
+--------------+---------------------------+-------------------+ 
| Edward       | Shore Capital & Corporate | Tel: 020 7408     | 
| Mansfield    | Limited                   | 4090              | 
+--------------+---------------------------+-------------------+ 
| Hugo de      | St Brides Media & Finance | Tel: 020 7236     | 
| Salis        | Ltd                       | 1177              | 
+--------------+---------------------------+-------------------+ 
| Elisabeth    | St Brides Media & Finance | Tel: 020 7236     | 
| Cowell       | Ltd                       | 1177              | 
+--------------+---------------------------+-------------------+ 
 
Notes to editors: 
 
About Equatorial Palm Oil 
EPO's objective is to become a producer of sustainable, low-cost CPO and to this 
end it has extensive operations located near the coast in Liberia, West Africa. 
The Company's operational strategy is expected to be implemented through three 
core business activities: the rehabilitation of existing oil palm plantations; 
the development of new plantations; and the development of out-grower small 
holdings.  The Company has secured Government ratified Investment Agreements in 
Liberia for the investment, rehabilitation and participation by the Group over a 
sizeable acreage of existing oil palm plantations.  EPO's operations have 
already commenced at the Butaw Plantation and Palm Bay Plantation. 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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