Oil palm opportunity in Sepik

SILOMCO Ltd is looking for a joint venture partner for the development of an oil palm project from Wewak, East Sepik, to Telefomin in the Headwagi area of West Sepik.

  • Staff Reporter
  • 21 February 2018
  • 04:57
  • News
Oil palm opportunity in Sepik

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An investment of K2 million is sought for the project which the company says has substantial growth prospects.
 
"The total amount of land proposed for cultivation and associated infrastructure is 450,000ha while a further 150,000ha can be made available for other agricultural, livestock and forestry developments," Silomco said, adding that the project recognised food security was an important goal to strive for and this project aimed to address this.
 
The business plan involves a core asset of 50,000ha as the central plantation while 350,000ha will be sub-divided into smallholder blocks of 7ha each (50,000 blocks). The remaining 50,000ha will be reserved for all other associated and complementary infrastructures such as a road network, an airstrip, a township with associated amenities and buffer zones including conservation areas and parks.
 
It is expected to have up to 40 milling plants, several refineries and a bio-fuel processing plant.
 
The project proposes to construct a main highway of up to 120km connecting Aitape where a sea-port wharf  will be built to take delivery of incoming goods and shipment of finished products to markets.
 
The project proponents are seeking for potential developers with the technical capabilities and financial capacity to discuss joint venture options under a JV arrangement in developing the project.
 
Expressions of interest should be directed to Kamis Yalakun (acting manager - Investment Promotion Unit, IPA, 308 4531 or email email kyalakun@ipa.gov.pg or sunset4216@gmail.com,

 

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