By BFN News |Equatorial Palm Oil’s 50% owned joint venture company, Liberian Palm Developments (LPD), has entered into a loan agreement of up to $30 million with KLK Agro Plantations, a wholly owned subsidiary of Kuala Lumpur Kepong Berhad (KLK), for the operations and funding for LPD. The loan will be used to continue to develop the operations of LPD and finalise the construction of the first stage of the new 60 metric tonne palm oil mill being built on Palm Bay estate. Equatorial Palm Oil said the construction of the 60 metric tonnes per hour (mt/hr) palm oil mill at Palm Bay estate is progressing well. Geoffrey Brown, executive director of Equatorial Palm Oil, said: “This funding from KLK Agro will drive our operations into production in the latter part of 2018. The commissioning of the palm oil mill, expected in Q3 2018, will be a very significant milestone not only for the company but also for the communities amongst whom we operate and for the Liberian Government.”Source: News Now(Visited 19 times, 19 visits today)Commentscomments

Source: GNN Liberia October 12, 2017 07:07 UTC