Completion of Commissioning of Palm Oil Mill (7566V)
January 18 2012 - 4:21AM
UK Regulatory
TIDMPAL
RNS Number : 7566V
Equatorial Palm Oil plc
18 January 2012
18 January 2012
EQUATORIAL PALM OIL plc
("EPO" or the "Company")
Completion of Commissioning of Palm Oil Mill
Equatorial Palm Oil plc, (AIM: PAL), the AIM listed palm oil
production company with operations in Liberia, is pleased to
announce that it has successfully completed the commissioning of
its processing mill at its Palm Bay Estate in Liberia.
The mill, inaugurated in May 2011 by the President of Liberia,
is sourcing fresh fruit bunches from the 3,500 hectares of existing
oil palms rehabilitated by the Company. The production rate has now
been increased to the full capacity of approximately 5 tonnes per
hour with current extraction rates in excess of 18 per cent. Crude
palm oil ("CPO") is to be sold both domestically and in the
international markets.
In line with the Company's operating strategy, the commissioning
of the mill further strengthens EPO's long term target of becoming
a significant regional palm oil producer. The mill at the Palm Bay
Estate is the only commercial scale oil palm mill in Liberia.
Michael Frayne, Chairman of EPO, said:
"Commissioning of this mill is a key milestone for EPO. In
addition to revenues from the production of CPO, the mill serves as
an excellent training and development facility for our employees as
we roll out our large scale planting program."
"With President Ellen Johnson Sirleaf securing a further six
year term, Liberia can enjoy a continued period of political
stability under democratic rule. We are proud to be playing a part
in the continuing programme of redevelopment and look forward to
increasing our contribution to the local economy."
For further information, please contact:
Equatorial Palm Oil plc
Michael Frayne (Chairman) +44 (0) 20 7766
www.epoil.co.uk 7555
Strand Hanson Limited (Nominated Adviser) +44 (0) 20 7409
James Harris / Paul Cocker 3494
Mirabaud Securities LLP (Broker) +44 (0) 20 7484
Peter Krens 3510
Pelham Bell Pottinger (Financial/ Corporate
PR) +44 (0) 20 7861
Archie Berens / Philippe Polman 3126
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSFUSUAFESEFF
Equatorial Palm Oil (LSE:PAL)
Historical Stock Chart
From Jun 2024 to Jul 2024
Equatorial Palm Oil (LSE:PAL)
Historical Stock Chart
From Jul 2023 to Jul 2024