Deal #4521

Land area

Intended size

14 297 ha

Size under contract (leased or purchased area)

[2013] 14437 ha
[2016, current] 16937 ha

Size in operation (production)

3600 ha
[2020] 7247 ha
[2020] 7706 ha
[current] 11 436 ha

Comment on land area

The guardian states 15000ha (company website states new acquisition of 14,437 Ha and another 2,500Ha). RSPO documentation indicates 14,436.823 ha acquired in 2013. Additional land acquired in 2016. A new acquisition of 14,297 ha and another 2,500 ha in Orhiomwon local government area of Edo state has added to the company's land bank. 11,436ha derived from polygon.

Intention of investment

[2016, current] Non-food agricultural commodities, Agriculture unspecified (16937 ha)

Comment on intention of investment

Cultivation of palm oil- Specialize in fats and oil

Carbon offset project

No

Nature of the deal

Lease

Negotiation status

[2013, current] Concluded (Contract signed)
[2016] Concluded (Contract signed)

Comment on negotiation status

First portion of land acquired in 2013. More land acquired in 2016. Presco Plc Sakponba Estate has being in the process to obtain EIA approval but due to government bureaucracy the approval process is yet to be obtained.

Implementation status

[2017] Startup phase (no production)
[2018, current] In operation (production)

Comment on implementation status

From RSPO documentation: "At the time of field verification, clearing and preparation for planting had not commenced (concession area still not opened by company). It was further verified by satellite imagery on June 14, 2017 (google earth tools) that no activities has been conducted by the company. Then, current condition to ensure there is no activity conducted on August 24, 2017 by imagery satellite".

Contract farming

No