Equatorial Palm Oil plc (EPO) is a UK crude palm oil developer and producer, founded in 2005 and listed in 2010. The company is focused on becoming a global, sustainable, production model through the reactivation and development of its oil palm estates in Liberia. West Africa is the original home of the oil palm, but to date most commercial growth has been in South East Asia, where Indonesia and Malaysia account for 85 per cent of world production. Palm oil is the most consumed vegetable oil in the world. But in SE Asia, there are increasing shortages of suitable land. KL – Kepong International Ltd., a wholly owned subsidiary of Kuala Lumpur Kepong Berhad (“KLK”), EPO’s joint venture partner and one of the largest palm oil producers in the world, now owns more than 62 per cent of EPO’s shares. In 2015 and 2016 KLK Agro has provided a total of $50 million to finance the development of EPO’s palm oil assets in Liberia, where EPO owns two estates, Palm Bay and Butau for a total of 55,913 hectares. 7,400 hectares have been planted since 2011 and the palms planted in 2011 and 2012 are already bearing fruit.
Exchange: London AIM (PAL)
Financial data from Exchange Website: LSE summary
Recent Financial Report: Results for year to 30 Sept 2016
Further information: The Ebola outbreak caused a major setback to the company’s original plans, but importantly, financing has now been agreed for a 30 metric tonnes per hour palm oil mill, to be constructed at the Palm Bay estate. It is anticipated that operations will commence in Q2 2018. There are plans for a second 30 mt/hr facility at the same location. Palm Bay estate is located 24km from the port of Buchanan where the Group has leased approximately 4.5 acres for a tank farm and export facility. This is close to the wharf from which it is intended that vessels will load produce for onward shipment .
Equatorial Palm Oil plc
1 Berkeley Street
London W1J 8DJ
Chairman (Exec) Michael Frayne
Executive Director Geoffrey Brown