Deal #7985

Nigeria
Created at
2020-06-24
Last update
2024-07-09
Last full update
2024-07-09

Land area

Size under contract (leased or purchased area)
  • [2011, current] 5718 ha
Comment on land area
The intended land deal is unknown.

Intention of investment

Intention of investment
  • [2011, current] Agriculture unspecified (5718 ha)
Comment on intention of investment
Siat is an agro-industrial group specializing in oil palm and rubber plantations, as well as associated processing and downstream industries.

Carbon offset project

Carbon offset project
No

Nature of the deal

Nature of the deal
Lease

Negotiation status

Negotiation status
  • [2011] Concluded (Contract signed)
  • [2022-03] Concluded (Change of ownership)
  • [2022, 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

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.