Appointment of ESIA Consultant (8237W)
February 06 2012 - 2:00AM
UK Regulatory
TIDMPAL
RNS Number : 8237W
Equatorial Palm Oil plc
06 February 2012
6 February 2012
EQUATORIAL PALM OIL plc
("EPO" or the "Company")
Appointment of ESIA Consultant
Equatorial Palm Oil plc, (AIM: PAL), the AIM listed palm oil
development and production company with operations in Liberia, West
Africa is pleased to announce it has appointed Coastal &
Environmental Services ("CES") to conduct its Environmental and
Social Impact Assessment ("ESIA") studies, as part of the Company's
strategy to source development bank funding for the next stage of
expansion in Liberia.
The ESIA studies will take place at both of the Company's
concession areas namely the Palm Bay Estate and the Butaw Estate.
The scope is to undertake ESIA processes that meet certain
international standards and are compliant with relevant oil palm
sector specific guidelines and requirements, as well as the
requirements specified in the International Finance Corporation's
Performance Standards 1-8, generally regarded as the international
benchmark in ESIA best practice.
CES is one of the most recognised and respected specialist
environmental consulting firms in southern Africa. The firm has
recently completed a study for the first biofuel project to be
funded by African development banks, the Addax Project in Sierra
Leone, paving the way for a EUR258m loan agreement to develop the
project.
The ESIA study is a continuation of social and environmental
assessments already completed by the Company which will contribute
to the Company's strategy for large scale development of
sustainable palm oil estates according to international
guidelines.
The ESIA studies are an important step towards the
implementation of our development plans, and will support our
on-going discussion with international development banks seeking to
become involved with our Liberia projects.
The resultant study is expected to be complete in the summer of
this year.
Michael Frayne, Chairman of EPO, said:
"The continuation of these social and environmental studies is
an important process in the growth of our business. The Board
believes CES are the best possible partner for these studies, with
extensive experience completing ESIA studies in Africa for
development bank institutions.
The Company now enters into the next planned stage of growth and
is driving forward with its planting schedules, employee
development and CPO production."
For further information, please visit www.epoil.co.uk or
contact:
Equatorial Palm Oil plc +44 (0) 20 7766
Michael Frayne (Chairman) 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
About CES
As one of the largest and most established specialist
environmental consulting firms in southern Africa, CES has gained
significant experience in a wide range of environmental assessment
and management fields since its inception in 1990. CES primarily
specialises in assessing the impacts of development on the natural,
social and economic environment through the Environmental Impact
Assessment (EIA) process, and in so doing contribute towards
sustainable development. CES has a Head Office in Grahamstown,
South Africa.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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