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LONDON (Alliance News) - DekelOil Public Ltd, which produces palm oil in West Africa, on Wednesday said its kernel crushing plant is on track to begin production at Ayenouan in the fourth quarter of 2015.
DekelOil owns 51% of the Ayenouan palm oil project in Ivory Coast. It operates the project.
"Based on the discussions we are having with potential offtake partners and our own internal forecasts, we are confident that there is a significant local market for both palm kernel oil and animal feed, which will allow both products to be sold at the factory gate," Lincoln Moore, executive director, said in a statement.
"We are working hard to ensure we hit the ground running once the KCP becomes operational by stockpiling our own kernels for processing as well as talking to other local suppliers, in line with our strategy to extract further value from the processing of fresh fruit bunches through the sale of high value PKO and animal feed. I look forward to providing further updates on our progress," Moore added.
Dekeloil shares were up 1.8% at 1.15 pence on Wednesday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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