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Deal #7985 Version #88075

Nigeria

Created at

2020-06-24

Last update

2022-09-07

Last full update

2024-07-09

Land area

Size under contract (leased or purchased area)

[2011, current] 5718 ha

Comment on land area

Consisting of Elele Estate

Intention of investment

[2011, current] Agriculture unspecified (5718 ha)

Comment on intention of investment

Siat is an agro-industrial group specialized in oil palm and rubber plantations and allied processing and downstream industries

Nature of the deal

Lease

Negotiation status

[2011] Concluded (Contract signed)
[2022-03] Concluded (Change of ownership)
[2011, current] Concluded (Contract signed)

Comment on negotiation status

In March 2022, Presco Nigeria PLC acquired SIAT Nigeria Limited (SNL), however it is believed that the original contract is still in force.

Implementation status

[current] In operation (production)

Comment on implementation status

1960: planting of 971 ha of oil palm at Elele Estate (Risonpalm). 1985 to 1991: 4,511 ha of oil palm planted at Elele Estate (Risonpalm). Risonpalm used to be a state-owned operation but it was run down.