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13.06.2004 Business & Finance

2,008 register for PSI on Oil Palm

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Busua (W/R), June 13, GNA - Two thousand and eight farmers have so far registered to be part of the President's Special Initiative (PSI) on Oil Palm, Mr. Thor Enid Bakken, General Manager of Norpalm Ghana Limited (NGL) has announced.

He said 3,970 hectares of land had been released for the project and that the company intended to increase its plantation by 500 hectares of oil palm in 2004.

Mr. Bakken who announced this at the third annual social interaction at Busua on Friday said as part of its social responsibilities the company was drilling seven boreholes valued at 430 million cedis for some communities while some community members were being trained to manage the water systems.

The company, in collaboration with the Ghana Social Marketing Foundation (GSMF) was also training 35 peer educators on HIV/AIDS, he said.

Mr. Per Schonberg, Chairman of the Board of Directors said the Management of Norpalm Ghana Limited (NGL) had invested a total of one million dollars in the company's mill, processing plant and cracking machine.

Additionally, the company had procured three new boilers and a steam turbine, to enable it to generate its own electricity by the end of June this year.

He said the company would soon rehabilitate the existing nut cracking unit, to enable it add more value to the nuts that company produced. Mr. Schonberg expressed the hope that, the nut expellers, which would facilitate the production of kernel oil, would increase the profits of the company.

Madam Sophia Horner-Sam, Deputy Western Regional Minister commended the management of company for their annual social interaction and urged them to keep it up.

She appealed to chiefs who own lands and other valuable properties to treat investors humanely and accept them as development partners. Madam Horner-Sam appealed to the chiefs to release more land for the expansion of NGL.