Our first Palm oil industry investment was in 2007, a joint venture with a minority stake under Nauvu Investments, an integrated palm player with a leading presence in Côte d’Ivoire and plantations of various sizes.
We entered into another joint venture with the Republic of Gabon in 2010, to develop large scale palm plantations. Given its suitable soil and climatic conditions, Gabon has the potential to be a cost-competitive palm oil producer. We are developing 100,000 hectares of palm plantations over two phases out of a total leasehold land bank of 300,000 hectares. We will also consider plantation development opportunities in Asia, which will adhere to the Olam Sustainable Development Policy.