Maru: Investment in oil palm project to start next year

 TRADE, Commerce and Industry Minister Richard Maru says investment in the oil palm project in the Sepik Plain’s Special Agriculture Economic Zone may begin in 2016.

The project is in his Yangoru-Saussia district in East Sepik. 

The agreement signed by the State and Malaysian company Kuala Lumpur Kepong (KLK) Berhad in August, had made it possible for the investment to take place.

Following the signing, KLK was to commence feasibility studies, develop an environment plan and progress to develop the oil palm project.

“The agreement signing will see work commence on the oil palm project which is one of the many agriculture projects planned for the Sepik Agriculture Special Economic zone,” Maru said. 

“There’s two – and we expect the first investment to start early next year. 

“That’s for the oil palm from the Melanesian investor near Urimo.” 

He said the other investor would look at chicken projects in the area.

He said they looking at other projects as well. 

“They are looking at major chicken and feed project near Kimbole and down to Kunage,” Maru said. 

“That’s by the Israeli company. 

“Other investors are already in the SEZ to request space and complete feasibility studies for major large scale agriculture projects including rice, cattle, chicke and animal feed.

“More investors have expressed interest in the developing large scale agriculture projects in the SEZ.”