Wah Seong has ventured into the Palm Oil Industry through its investment in Atama Plantation Sarl (“APS”), which was granted a 60-year agriculture concession by the Ministry of Agriculture and Animal Breeding of The Republic of Congo to develop 470,000ha of tropical land into oil palm plantations.
Based on feasibility studies conducted, of the 470,000ha of land granted, about 180,000ha can be classified as “Suitable to Highly Suitable” for the cultivation of oil palm. The planting programme is envisaged to be carried out in 10 phases over a 15-year period with the first phase to commence in early 2013.
This venture into the plantation industry is synergistic with our Renewable Energy Division, a major participant serving the needs of the agro-based industry worldwide, and will contribute to WSC Group’s long-term growth and income sustainability.
The participation of WSC in the oil palm plantation and renewable energy sectors of The Republic of Congo is an opportunity for WSC to contribute towards its national economic development as well as uplifting the Congolese’ standard of living and accords WSC with a number of avenues for meaningful expression of its corporate social responsibilities.
For more information on Plantation, please click here.