Deal #3626

Location #1

Spatial accuracy level
Administrative region
Location
Kikori, Papua-Neuguinea

Target country
Papua New Guinea

Land area

Size under contract (leased or purchased area, in ha)
[2008] 23180

Intention of investment

Intention of investment
Agriculture unspecified

Nature of the deal

Nature of the deal
Lease
Comment on nature of the deal
The primary investor (Wowobo) subleased to land to the secondary investor (Reko). The ownership of the produce (palm oil) as well as the right to dispose the land were guaranteed to the latter.

Negotiation status

Negotiation status
[2008] Concluded (Contract signed)

Implementation status

Implementation status
[2011] Project not started

Leasing fees

Comment on leasing fees
The land was subleased "at a rental of K139,080 per annum for the term of the lease less one day"

Contract #1

Contract date
2008-01-09
Duration of the agreement (in years)
99

Operating company

Comment on investment chain
classified as a landowner company; however no clan members (related to the leased area) are shareholders and apparently the secondary investor even took part in the decisions concerning Wowobo's staff

 

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Data source #1

Data source type
Research Paper / Policy Report
File
Date
2012-08-01

Data source #2

Data source type
Government sources
File
Date
2011-10-05

Data source #3

Data source type
Government sources
File
Date
2011-12-09

Data source #4

Data source type
Government sources
File
Date
2011-12-12

Data source #5

Data source type
Media report
File
Date
2009-01-01

Consultation of local community

Community consultation
Limited consultation

Promised or received compensation

Promised compensation (e.g. for damages or resettlements)
profit-sharing guaranteed in the sublease contract ("one percent generated by the tenant from the permitted use of the SABL to the landowners")

Former land owner (not by constitution)

Former land owner
Community

Former land cover

Former land cover
Forest land

Detailed crop, animal and mineral information

Crops area
Oil Palm

May 12, 2013, 10:55 p.m.

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