| Deal #7985 | Version 88075 | Version 93402 |
|---|---|---|
General info | ||
| Comment on land area | Consisting of Elele Estate
| The intended land deal is unknown. |
| Comment on intention of investment | Siat is an agro-industrial group specialized in oil palm and rubber plantations and allied processing and downstream industries | Siat is an agro-industrial group specializing in oil palm and rubber plantations, as well as associated processing and downstream industries. |
| Carbon offset project | No | |
| Negotiation status |
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Employment | ||
Investor info | ||
| Comment on investment chain | In March 2022, Presco Nigeria PLC acquired SIAT Nigeria Limited (SNL). | In March 2022, Presco Nigeria PLC acquired SIAT Nigeria Limited (SNL). SIAT is one of the five major companies controlling 75% of oil palm plantations in Africa. |
Local communities / indigenous peoples | ||
| Community consultation | Limited consultation | |
| Community reaction | Rejection | |
| Comment on community reaction | Communities oppose SIAT's perceived predatory agricultural development model and advocate for binding regulations at Belgian, European, and international levels. | |
| Presence of land conflicts | Yes | |
| Comment on presence of land conflicts | There are accusations of land grabbing and human rights violations associated with SIAT’s activities. | |
| Negative impacts for local communities | Environmental degradation, Socio-economic, Eviction, Violence, Other | |
| Comment on negative impacts for local communities | SIAT's activities have led to negative impacts on local communities, including threats to food sovereignty, loss of biodiversity, and environmental degradation. | |
Former use | ||
Produce info | ||
| Comment on crops | specialized in oil palm and rubber plantations | SIAT specializes in oil palm and rubber plantations. The company sells palm oil-based products to major multinationals like Unilever and Nestlé, and rubber products to international tire giants like Michelin and Goodyear. |
| Comment on in country processing of produce | SIAT Nigeria Limited supplies palm oil, crude palm kernel oil and palm kernel cakes of outstanding quality to customer specifications and assures a reliability of supply of its products year round. The integrated nature of the company’s production process makes this possible. | |
Water | ||
Gender-related info | ||
Overall comment | ||
| Overall comment | SIAT Nigeria Limited is the first RSPO certified company in Nigeria. SIAT Nigeria has another deal #1680
Presco Nigeria PLC, which operates in the agricultural sector, with a main focus on crop production, palm plantation and processing, proposes to acquire SIAT Nigeria Limited (SNL).According to the announcement, the proposed acquisition was brought about due to SNL’s recent acquisition of the assets of Risonpalm, a palm oil plantation that is comprised of 16,000 hectares of old palm plantation | SIAT Nigeria Limited is the first RSPO-certified company in Nigeria. Presco Nigeria PLC, focused on crop production and palm processing, plans to acquire SIAT Nigeria Limited, following SNL’s recent purchase of the 16,000-hectare Risonpalm plantation. SIAT also has operations in Belgium, Ghana, Nigeria, and Côte d'Ivoire. |
Meta | ||
Locations | ||
Data sources | ||
Data source #JF4asslc | ||
| Organisation | SIAT Nigerria | |
Data source #M3YaFhA_ | ||
| File | ||
Data source #lCr03w7C | ||
| File | ||
| Organisation | nairametrics | |
Data source #Wwkuxk-i | ||
| Type | Media report | |
| Url | ||
| Keep PDF not public | No | |
| Publication title | Presco reports approval of SIAT acquisition | |
| Date | 2022-03-15 | |
| Organisation | Nigerian News Direct | |
Data source #q6sNCdPR | ||
| File | ||
| Type | Media report | |
| Url | ||
| Keep PDF not public | No | |
| Publication title | SIAT’s silence in the face of demands from affected communities | |
| Date | 2023-06-26 | |
| Organisation | CIDSE | |
| Comment on data source | Consists of investor, produce and general information | |
Contracts | ||