Lufwanyama headed for edible oil boom

TWITTER
FACEBOOK
Note from the editor: Both Global Industries Limited  and Global Plantations Limited are indirectly owned subsidiaries of Wilmar. In May 2014, Wilmar announced that Wilmar Europe Holdings B.V. (“WEHBV”), a direct wholly-owned subsidiary of Wilmar, had acquired a 27% equity interest in Global Industries Limited (“GIL”) from three individual shareholders, who are unrelated to Wilmar, for a total purchase consideration of US$2,318,100. Before this acquisition, Wilmar held an indirect 7.5% equity interest in GIL through Josovina Commodities Pte. Ltd. (a direct 50% associated company of Wilmar). Following the completion of the above acquisition, GIL is now an indirect 34.5% owned associated company of Wilmar. In August 2013, Wilmar announced that Global Plantations Limited (“GPL”) is an indirect 39% owned associated company of Wilmar. Wilmar Europe Holdings B.V. (“WEHBV”) (a direct wholly-owned subsidiary of Wilmar) holds a direct 28% stake in GPL while the balance 11% of Wilmar’s effective interest in GPL is held through Josovina Commodities Pte Ltd (a direct 50% owned associated company of Wilmar).

Amelia Nyundo, a farmer in Zambia, in her field of failed maize. (Photo: Martin Godwi)
Zambia Daily Mail | 27 October 2014

Lufwanyama headed for edible oil boom

by NKWETO MFULA – Chingola

GLOBAL Group of Companies, which is targeting 5,000 hectares of oil seed plantations at its farm bloc in Lufwanyama, says it has the capacity to produce a total of 100,000 metric tonnes of edible oils per annum.

Meanwhile, Global Plantation Limited (GPL), a subsidiary of the group, intends to support an out-grower scheme in 2017/18 farming season once it acquires a minimum of 20,000 hectares farmland in Zambia.

The group’s major subsidiary, Global Industries Limited (GIL), said in a press response recently that the company is investing in farming of multi-vegetable oil seeds project.

The company is targeting a total investment of US$100 million on the 20,000 hectares of farmland.

“GIL is investing into multi-seed oil crushing plant in Zambia… [and] targets to invest a total of US$70 million into crushing project and has planned to create 500 jobs for the local people.

“The company is investing US$30 million as capital expenditure and will be having working capital investments of US$40 million,” the group stated.

The company said construction of the plant in Ndola is expected to be operational by November 2015, with a capacity of 1,000 metric tonnes per day.

“This will be the highest seed crushing capacity by one company in Zambia to date,” it said.

GIL, which was incorporated in 2007 and awarded the best manufacturer of the year 2013 by the Zambia Association of Manufacturers, anticipates to attain 20,000 hectares under farming to generate about 5,000 jobs.

--

5 September 2014

Zambia Development Agency facebook page

ZDA will today sign two Investment Promotion and Protection Agreements (IPPAs) with Global Group of companies with a combined commitment investment of US$142 million.

The first IPPA will be signed with Global Industries Limited with an investment commitment of US$90 million in agricutural production involving oil seed crops, while the second one will be with Global Plantations Limited to set up a crude vegetable oil refinery with an investment of US$52 million.

The Minister of Commrce Trade and Industry, Hon. Robert K K Sichinga, will officiate at the signing ceremony at the Global Plantations farm in Lufwanyama. The ZDA Chairman Mr Songowayo Zyambo will sign on behalf of the Agency while the Global Industries Group shall be represented by Mr Srinivas Rao.

The minister is also expected to tour Global Industries Limited premises in Ndola's industrial area and the Global Platations farm in Lufwanyama.

This is the first time that ZDA is signing an IPPA since 2011.
Original source: Zambia Daily Mail
TWITTER
FACEBOOK
TWITTER
FACEBOOK

Post a comment

Name

Email address (optional - if you want a reply)

Comment