Please note: you are viewing an old version of this deal. The current version can be found here: Deal #2371

Deal #2371 Version #57927

Sierra Leone

Created at

2013-02-15

Last update

2014-02-24

Last full update

2024-08-14

Land area

Intended size

12 000 ha

Size under contract (leased or purchased area)

[2011, current] 6579.0 ha

Size in operation (production)

[2013, current] 3125.0 ha

Comment on land area

Extension plans for a second phase over 5,500 hectare for oil palm plantations under similar conditions to the first phase are in progress. The plans are to have 12 000hectares planted by 2017/2018.The ultimate goal is to obtain 30 000ha.

Intention of investment

[current] Non-food agricultural commodities, Agriculture unspecified

Nature of the deal

Lease

Negotiation status

[2011, current] Concluded (Contract signed)

Comment on negotiation status

The company signed on the 5th March 2011 a sub-lease with the Government of Sierra Leone, which holds the lead lease with the chiefdom council.The lease appears not to comply with the country’s land law by providing a renewal option not for 21 years but for two periods of 25 years.

Leasing fees

Annual leasing fee

12.5

per ha

Comment on leasing fee

The company pays US$ 5 rent per year per acre, with only half of it going to the land owners.