Olam Palm Gabon, a company owned by the Gabonese government and Singapore’s Olam International Ltd, will spend 450 million euros on the second part of its palm-oil project in 2013.
M. Gupta clarified that the company remains committed to “the total investment for the establishment of 50 000 hectares of palm plantation in Gabon where approximately $ 250 million will be spent over the next five years”.
“Olam Palm Gabon SA is a subsidiary of Olam International and currently employs more than 300 staff and workers. The potential employment generated in the future could be between 4000 and 5000 workers”, M. Gupta explained.
M. Gupta considers that Roundtable on Sustainable Palm Oil(RSPO) certification will promote the growth and use of sustainable palm oil in Gabon.
RSPO is supporting environmental, social and economically friendly production of Palm Oil avoiding all negative impacts which put non-sustainable Palm Oil under criticism.
M. Gupta states that this process has been done in a transparent manner. Sustainability certification under the RSPO will allow Olam Palm Gabon to open up new markets, both domestically and internationally.
Olam Plam Gabon has completed the Free, Prior and Informed Consent (FPIC) process in Gabon. Olam Palm Gabon plantations are located in the center and the South of the country.
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