Deal #7399

Location #1

Spatial accuracy level
Exact location
Location
Port Loko, Sierra Leone

Latitude
8.7091245
Longitude
-12.713512100000003
Target country
Sierra Leone
Location description
Northern province of the Republic of Sierra Leone
Comment on location
Port Loko has excellent logistical advantages: It is just 1h30 from Freetown, Sierra Leone's capital, and one of the largest harbours in West Africa.

Land area

Size under contract (leased or purchased area, in ha)
[2011] 32441
Size in operation (production, in ha)
[2014] 855
Comment on land area
In 2014, 855 hectares planted with oil palm and 65 000 seedlings in oil palm nursery. The plan is to plant 10,000 hectares of core estate palm with a 5,000 hectare out-grower programme. 17000 ha is to be turned into a natural reserve and handed back to the community.

Intention of investment

Intention of investment
Agriculture unspecified
Comment on intention of investment
The plan is to plant 10,000 hectares of core estate palm with a 5,000 hectare out-grower programme. 17000 ha is to be turned into a natural reserve and handed back to the community.

Nature of the deal

Nature of the deal
Lease
Comment on nature of the deal
lease directly negotiated between the chiefdom council of Marfoki chiefdom and the company.

Negotiation status

Negotiation status
[2011] Concluded (Contract signed)

Implementation status

Implementation status
[2017] In operation (production)
Comment on implementation status
855 hectares planted with oil palm and 65 000 seedlings in the nursery.

Leasing fees

Annual leasing fee
2.50
Annual leasing fee currency
US Dollar ($)
Annual leasing fee type
per ha
Comment on leasing fees
US$2.50 as annual leasing fee for the first 7 years after which the leasing fee will be reviewed. At the end of every year, a royalty of 5% of net profit to be paid by the company.

Contract farming

Contract farming
Yes
Not on leased / purchased area (out-grower)
Yes
Comment on contract farming
The company plan to have a 5,000 hectare out-grower programme. The company provides market to crops for over 500 small farmers

Contract #1

Contract date
2011-11-18
Contract expiration date
2061-11-17
Duration of the agreement (in years)
50

Number of total jobs created

Jobs created (total)
Yes
Current number of employees (total)
[2012] 350
Comment on jobs created (total)
In 2012/13, the company had 350 unskilled workers from local villages

Operating company

 

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Data source #1

Data source type
Contract
File
Publication title
Lease agreement
Date
2011
Comment on data source
Highlight info on the size under contract, annual leasing fees etc

Data source #2

Data source type
Company sources
File
Publication title
website: About us
Date
2017
Comment on data source
website was last updated in 2017

Detailed crop, animal and mineral information

Crops area
Oil Palm

March 11, 2020, 1:59 p.m.

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Jan. 9, 2020, 3:27 p.m.

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