(TIMES) Investor to set up oil palm plantation in Nchelenge
Investor to set up oil palm plantation in NchelengeBy Times Reporter
CHIEF Kambwali of Nchelenge District has given an investor 9,500 hectares of land to establish an oil palm plantation in Mulwe area. Nchelenge District Commissioner, Wilson Kasoloko confirmed the development in an interview yesterday. Mr Kasoloko said the chief had allocated the land to Biomax which has an investment plan of up to US$80 million.
He said out of $80 million, $50 million would be spent on the establishment of the plantation while $30 million would cater for the construction of a refinery in Ndola.
Out of the 9,500 hectares of land, 5,000 will be set aside for the establishment of the plantation while 4,500 hectares will be used to grow other crops such as maize.
Mr Kasoloko said he was informed by one of the shareholders only identified as Markford that it would take nine months to complete the design of the project.
During the period, the investor will be working on the construction of a water scheme and clearing of land for the project.
Mr Kasoloko said it would take 15 months before transplanting, meaning that planting would be done in October 2010, during which the investor would be building a refinery in Ndola.
Mr Kasoloko said that by 2013, an oil mill would be commissioned in Mulwe area and that five hectares of land would be planted during the same period.
The oil palm project will be in full production in the year 2017.
Mr Kasoloko said Biomax would be producing bio-fuels and that at full capacity, 20,000 tonnes of bio-diesel would be produced annually.
The project will be expected to employ between 200 and 300 local people.
He said the Government was happy that the investor had chosen to set up an oil palm plantation in the area as it would create employment for the local people.
He said the coming of Biomax was a blessing to the people of Nchelenge as it would contribute to economic development and had come at a time when oil production was expensive.
Labels: CHIEF KAMBWALI, LUAPULA PROVINCE, NCHELENGE DISTRICT, PALM OIL
posted by MrK @ 8:47 PM
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