Presco's Investment in Nigeria Hits $1bn

by Research 21. April 2015 08:26

he investment injected into the Nigeria economy by Presco Oil Palm plc in the past one decade has risen beyond $1 billion, THISDAY has learnt.

With the company bringing in a minimum of $100 million investment into the country annually for the past ten years, the companies total investment in the country has risen over a billion dollars during the period.


Chairman of the company, Mr. Pierre Vandebeeck, explained that the investments  included procuring high quality state-of-the-art ‎equipments, automated steam turbines and a biogas plant  for power generation, oil palm processing mills, refineries  and plants and machineries

Vandebeeck in an interview with THISDAY, said the company is going forward by building a new refinery and oil mill that would gulp another $30 million to boost oil palm production in Nigeria

In his words: "I have not done the feasibility study yet but the cost estimate for the oil mill  is about $20 million and the refinery is $10 million summing up to a $30 million investment. A hectare of new plantation is about $6000 so multiply that to know how much we are investing every year. We are not stopping. We are like a vehicle driving very fast  all the time, although I do say should we  slow down a bit but there are so many opportunities that come up that we do not want to miss and therefore you are more or less pushed to continue investing. ‎"

Every year, the company cultivates thousands of hectare of land on average along with initiatives in alternative electricity generation investments, oil palm processing and refining among others all keeping investments flowing into the country from firm.

Meanwhile,  the company also said it has opened a new chapter  in its history, through the appointment of its first Nigerian Managing Director, Mr. Felix Nwabuko, to guide the company to success in its goal of remaining the most innovative and reliable operator in the sector globally.

 

Nwabuko, with vast experience spanning about three decades, in KPMG, Siat Group, University College, London among others is the new man to drive the company towards its set objectives.

Also, the Presco chairman, said the company has just began a new chapter by  acquiring  a biotechnology company in Belgium to produce high performing planting materials to achieve greater and quality yields.

 

"We are the only company in this industry in the world that has succeeded  in cloning rubber trees. We started two years ago and will be planting our first cloned rubber trees in Ivory Coast and Ghana because we believe through this system we will be increasing the rubber yields by about 30 per cent per hectares by 2 tonnes to 3 tonnes, but I believe it will be more‎," he said

He noted that for the past  ten years, Presco has being investing in what he described as a genetic block of oil palm having over 200 different crosses ‎and varieties from all over the world, saying that the company will propagate and make it available to anyone willing to pay the price.

 

"We have the first result for this and five years after planting, we added 20,000,000 per hectares with an extraction rate of 29 per cent and this means we are doubling the oil yields per hectare of what is coming now.‎ We are doing the same thing ‎for cocoa because personally I believe in three crops which are  rubbber, oil palm and cocoa. We are going to produce high performing clones that are disease resistant, he said.


He pointed out that the investment which is recurrent and ‎gulping a lot of resources is a project not only for the company but  for farmers to use for growing high quality yields in their various farms across the country.

 

‎"This is an investment that is recurrent and gulping a lot of money. We have the best scientist working on this project. We are  making this project  available not for our plantations. I consider our company as a commercial entity where we have our presence  in different parts of the continent, growing platforms to produce top planting materials for whoever wants to buy it," he said.


He stated that this year, the company is aiming to achieve a profit margin of about 40 per cent with a  turnover of about N4 billion.

We are looking at 40 per cent. God willing we are looking at a turnover of about N4 billion this year‎. For 2014, we declared a duvidend and our company's policy is 50 per cent dividends of the net profit. So if we are making a profit of N3 billion,  we will be declaring about 1.5 billion dividend to our shareholders," he added.


Vandebeeck said the increasing terrorist action of the boko haram sect in the northern part of the country has disrupted so many business activities but however hope to achieve a stable and peaceful business activities in the north.

 

"We are committed to research and development and also devote each year, more resources to this activity. Indeed we are, together with our international partners, at the forefront in the development of improved oil palm and rubber planting materials, which aims at selecting strains adapted to our soil and weather and with increasing yield per planted hectare,” he said.

Source: THISDAY LIVE

Tags:

Comments

20/02/2019 14:37:02 #

Alfredo

Definitely believe that which you said. Your favorite reason appeared to be on the web the easiest thing to be aware of. I say to you, I certainly get annoyed while people consider worries that they plainly do not know about. You managed to hit the nail upon the top and defined out the whole thing without having side effect , people could take a signal. Will likely be back to get more. Thanks  Stop by my webpage  Alfredo - https://Yuvaariyorum.com/user/profile/93829

Alfredo United States

20/02/2019 14:37:02 #

Nifty Weekly Options Trading Strategies

Way cool! Some very valid points! I appreciate you penning this post and also the rest of the site is extremely good.

Nifty Weekly Options Trading Strategies United States

20/02/2019 14:38:42 #

Turmeric in smoothie

I was recommended this blog by my cousin. I am not sure whether this post is written by him as nobody else know such detailed about my difficulty. You're amazing! Thanks!  My site:  Turmeric in smoothie - https://business.yju.ac.kr/board_tRjs28/469055

Turmeric in smoothie United States

20/02/2019 14:41:21 #

Website Hosting

Great blog here! Also your website loads up fast! What host are you using? Can I get your affiliate link to your host? I wish my website loaded up as fast as yours lol

Website Hosting United States

20/02/2019 14:48:17 #

Philippines Medical college

Why visitors still make use of to read news papers when in this technological world everything is presented on web?

Philippines Medical college United States

20/02/2019 15:06:40 #

vides porno

fotos porno mujeres  sexo durante el embarazo - https://www.ilda.club/sexo-durante-el-embarazo.htm  conos peludos porno  sexo gay xx - https://www.ilda.club/sexo-gay-xx.htm  concurso porno japones  el porno gratis - https://www.denese.space/el-porno-gratis.htm  albacete sexo  porno espanol gordas - www.maryalice.club/porno-espanol-gordas.html  jocuri porno  porno putas - https://www.sweeney.club/porno-putas.html  videos porno gratis en youtube  videos sexo retro - https://www.vergie.space/videos-sexo-retro.htm  sexo en amposta  videos porno de maduras gordas - www.galen.space/...os-porno-de-maduras-gordas.html  como tener ganas de sexo  porno latino - https://www.denese.space/porno-latino.htm  porno con enfermeras  sexo lesbico interracial - www.vergie.space/sexo-lesbico-interracial.htm  sexo en caceres  videos de sexo gratis maduras - www.williemae.club/...-de-sexo-gratis-maduras.html  videos 3d porno  striptis porno - https://www.garret.fun/striptis-porno.htm  comic porno javi  pelis con sexo - https://www.nelida.space/pelis-con-sexo.htm  porno transexual gratis  gay sexo espanol - https://www.denese.space/gay-sexo-espanol.htm  fotos pornograficos  fotos sexo amater - https://www.elfrieda.space/fotos-sexo-amater.htm  sexo porno gratis  pelis porno japonesas - www.lakeshia.club/pelis-porno-japonesas.htm  comics porno xxx  peliculas porno anal - https://www.shavon.fun/peliculas-porno-anal.html  youtube del sexo  sexo tia y sobrino - https://www.colene.club/sexo-tia-y-sobrino.html  porno gay anime  fotos porno abuelas - https://www.elfrieda.space/fotos-porno-abuelas.htm  sexo con enfermeras  sexo en mi ciudad - https://www.lakeshia.club/sexo-en-mi-ciudad.htm  chatear sexo gratis  sexo de porno - https://www.inga.space/sexo-de-porno.html  porno amateur anal  peliculas porno maduras - www.victorina.club/peliculas-porno-maduras.html  sexo en la cama  videos de sexo de incestos - www.maryalice.club/videos-de-sexo-de-incestos.html  masaje sexo barcelona  porno duro espanol - https://www.ilda.club/porno-duro-espanol.htm  porno amater hd  lenceria sexo - https://www.edythe.club/lenceria-sexo.htm  sexo casero de maduras  sexo con embarazada - https://www.colene.club/sexo-con-embarazada.html  aramis fuster porno  videos porno virgenes https://www.galen.space/paginas-pornograficas.html mi mujer no quiere sexo www.garret.fun/videos-porno-gratis-peludas.htm sexo grqtis https://www.edmond.club/porno-mayores.htm sexo gratis viejos www.galen.space/porno-gay-de-espanoles.html mujeres que quieran sexo https://www.edythe.club/series-de-sexo.htm videos sexo playas nudistas www.lakeshia.club/videos-porno-hentai-gratis.htm porno espnol https://www.nelida.space/vidios-sexo.htm zona porno gay https://www.myung.space/porno-chicas-pequenas.html sexo con mi esposa www.lettie.club/videos-porno-de-espanoles.html sexo gay tube https://www.maryalice.club/porno-gratis-sado.html porno abuelas gordas www.vergie.space/videos-sexo-amater-espanol.htm sexo mujeres jaen https://www.inga.space/sexo-canaria.html sexo con abuelas gratis https://www.nelida.space/porno-duro-sexo.htm juegos sexo gay https://www.edmond.club/videos-gays-pornos.htm chicas guapas sexo www.lettie.club/videos-porno-de-espanoles.html parejas porno https://www.vergie.space/porno-cumloader.htm ver videos porno gratis espanol https://www.sweeney.club/porno-gratia.html porno familiar www.nelida.space/videos-gratis-de-sexo-2459.htm vidio sexo gratis www.maryalice.club/videos-porno-conos-peludos.html emoticonos de sexo https://www.meggan.club/video-sexo.htm peliculas pornografica www.williemae.club/maduras-sexo-madrid.html violadas pornografia https://www.sharika.club/sexo-en-menorca.html videos gay porno espanol www.lakeshia.club/...porno-de-dunia-montenegro.htm sexo gratis cordoba https://www.salas.space/trios-sexo-casero.html relatos de sexo filial https://www.sharika.club/riesgo-sexo-oral.html porno en vivo

vides porno United States

20/02/2019 15:10:59 #

Gastric Bypass Dominican Republic

It's nearly impossible to find experienced people about this subject, however, you sound like you know what you're talking about! Thanks

Gastric Bypass Dominican Republic United States

Add comment


(Will show your Gravatar icon)

  Country flag

biuquote
  • Comment
  • Preview
Loading



Powered by BlogEngine.NET 1.6.0.0
Theme by Mads Kristensen

TextBox

Tag cloud

    Calendar

    <<  February 2019  >>
    MoTuWeThFrSaSu
    28293031123
    45678910
    11121314151617
    18192021222324
    25262728123
    45678910

    View posts in large calendar