Equatorial Palm Oil PLC said on Monday that land development has recommenced at the Palm Bay estate in Liberia.
AIM-listed Equatorial Palm Oil (EPO) said that a moratorium on development in potential high carbon stock (HCS) forest areas has expired after the completion of a study, allowing the joint venture company Liberian Palm Developments Ltd, in which it has a 50 percent interest, to recommence development.
“It is pleasing to recommence land development at Palm Bay estate, not only after detailed HCS assessments but also following a two-year consultation process in which EPO actively engaged with stakeholders to consider all interests relating to oil palm development on our estates,” said Geoffrey Brown, executive director of Equatorial Palm Oil.
Shares in Equatorial Palm Oil were up 5.7% at 1.85 pence Monday. (Source: Alliance News, London).