Maru: K50m to boost new oil palm project

Business, Normal

The National, Monday March 10th, 2014


THE government’s funding of K50 million towards an oil palm project is a major boost for infrastructure development in East Sepik, Trade Commerce and Industry Minister Richard Maru said.

Maru said this as he welcomed a delegation from Singapore’s Wilmar International Ltd last Thursday.

The company would develop the multibillion oil palm project in the province once the deal was finalised. 

Wilmar was ranked among the largest listed companies by market capitalisation on the Singapore stock exchage.

Its  business activities included oil palm cultivation, oilseeds crushing, edible oils refining, sugar milling and refining, specialty fats, oleochemicals, biodiesel and fertilisers manufacturing and grains processing. 

Maru said this multibillion kina oil palm project was well placed as it was a joint venture between the landowners, East Sepik provincial government, state and Wilmar.

He said the representatives were in the country to negotiate with the state on the terms and conditions of the project.

The Wilmar representatives visited the project site in East Sepik over the weekend.