Deal #1165

Fri El Green originally leased 4000ha existing oil palm plantations, plus an agreement with Congo state to develop a further 40000 over 30 years. Eco Oil Energy leased 50 000hectares with an expansion up to 300 000ha within the next eight years. Another report states 70000ha intended size. Plan is to plant 5000hectares of oil palm per annum.

ECO-OIL ENERGIE is an agricultural and agro-industrial company, which is involved in the cultivation of oil palm and rubber trees in Congo. The company plans to produce crude oil, refined palm oil, palm kernel oil, margarine, cosmetics, soap, animal feed and also biofuel. In addition to margarine, the company has moved into the production of biofuel made from palm oil.

Fri El Green Power (Italy) originally signed the contract in 2008, with consultation occurring in May 2009. The government cancelled the contract due to the failure of the company to meet the contractual commitments. Eco Oil Energy Congo signed a new lease with the government in 2013 for the land which formerly belonged to Sangha Palm Company and the Congo National Palm Plantations Authority, which was previously leased by Fri El Green. Lease duration for Fri El Green was initially 30 years (2008).

The year of production under the previous state-owned company is not known. Fri-El Green brought the plantation into production in 2009. While Eco Oil Energy brought the plantation into production in 2013. The total investment from Eco Oil Energy will be 350 billion CFA francs, with an initial investment of 50 billion CFA francs. First finished products were produced in April 2015.