Deal #2236 Version #57342

In phase 1 only 50000 are cultivated. Olam is planning to develop at least 180,000 hectares by 2018 or 2019, including 100,000 hectares of industrial palm oil plantations (in two phases) and up to 30,000 hectares of smallholder palm plantations and 50,000 hectares of rubber plantations. Another sources states 50 000 hectares of oil palm over 4-5 years, and 28 000 hectares of rubber plantations over 6 years. A company source states that Olam Palm Gabon is managing a total area of 110,864 ha, setting aside more than 50% of the land to protect HCV areas, riparian buffers and wetlands.

oil palm activities started in 2012. Rubber initiative announced in 2012. Oil palm factory was inaugurated in August 2015. 50% of the land will be used for conservation - HCV (High Conservation Value) areas and riparian buffers.

Olam Palm Gabon has entered into a sale of long term lease rights of land and a sale and lease-back of plantation and milling assets, comprising 20,030 hectares of total land area in Awala, Gabon and including 6,502 hectares of planted area, for a cash consideration of US$130.0 million with YCAP Asset Management (“YCAP”). Under this agreement, YCAP holds the rights to the long term leases on the land. The agreement is valid for a period of 18 years, extendable for another three years at the request of either party. OPG retains the right to operate the palm plantation and mill in Awala and will therefore continue to participate in the production economics of the palm plantation without the asset intensity. - See more at: http://olamgroup.com/news/olam-palm-gabon-enters-sale-long-term-lease-rights-land-sale-lease-back-plantation-milling-assets-awala-us130m/#sthash.QATp3sg6.dpuf

planting palms is expected to commence in early 2012 and be completed by 2016. Clearing of secondary forest in the Kango plantation had taken place by the end of April 2012. Another data sources mentions planting started in 2011.

Olam claims that it will pay a lease rent of CFA Franc 5,000 (US$10) per hectare from the 17th year. The first 16 years are free.

One report states that Phase 1 development under this initiative has benefited more than 14,000 Gabonese farmers and the joint venture will also offer market access to these farmers through Olam’s distribution networks.