As investors scramble to get the mineral wealth of Sierra Leone, SLIEPA is ensuring that only credible investors are welcome into the country. One such credible investor is the Indian-based SIVA Group Company with over a billion dollar investments portfolio on palm oil within the next five years for Pujehun and Port Loko Districts.
SIVA Group is currently nursing palm kernels in over two hundred and fifty thousand hectares of arable land without adversely affecting subsistence agricultural farm lands of locals and their many secret society areas.
Bio Palm is the process of acquiring green field land for palm oil production.
The Government of Sierra Leone has entered into an agreement through SLIEPA with SIVA Group for the oil palm project in Pujehun and Port Loko districts with the involvement of traditional chiefs, land owners and civil society groups.
In a bid to show commitment and determination towards the oil palm project, a delegation from SIVA Group headed by Director, Shankar Varadharajan, is in the country to visit project sites in Pujehun and Port Loko districts and to also meet with heads of departments and agencies in government.
The team yesterday breezed into the Sierra Leone Investment and Export Promotion Agency at Tower Hill to meet the pioneers of this recent investment by SIVA Group headed by Patrick Caulker.
“SIVA Group is among the major foreign direct investments in the country facilitated by SLIEPA, we are in a ‘hurry’ to meet credible investors that will turn around the economy according to the Agenda for Change.” says the CEO-Patrick Caulker while welcoming the delegation.
He also pointed out that most investments facilitated by SLIEPA are making progress in meeting international standards and also supporting the development of the country. The Chief Executive Officer of SLIEPA said; “land issues are critical so we adopted the bottom top approach by engaging the local communities on a streamlined process recognized by the Government of Sierra Leone.
The company plans to produce palm oil to meet the demand of the local market before exporting to neighboring countries and abroad which the Sierra Leone Investment and Export Promotion Agency (SLIEPA) Chief Executive Officer, Patrick Caulker believes will create more jobs to stimulate the economy thereby increasing foreign direct investment.
Patrick Caulker assured the SIVA group delegation of government’s continued commitment and determination towards the agreement and encouraged them to invest more as they are always willing to improve investments and facilitate export to and from the country.
The head of delegation from SIVA group, Director Shankar Voradharjan, said his visit is to demonstrate their commitment to invest in the country within the next five years about USD$1.2bn roll out plan oil palm.
He said SIVA Group has forayed into the palm oil sector, through its entity Bio Palm Energy Ltd. (‘Biopalm’) to meet the imperative growing global need for sustainable palm oil products and its derivatives.
The company, he said, is positioning itself as an emerging global player in sustainable production of palm oil with plantations and production mills being acquired or developed in West Africa, South America and Asia.
The Director stated that the company is poised to create one of the most powerful integrated global networks for production and distribution of Crude Palm Oil (CPO).
He explained that SIVA Group Bio Palm has existing plantations globally mapped out to bring together the best of synergies on economic scale, strong local partnerships, and a win-win business model that ensures inclusive growth of the local economy with integrated global reach.
He pointed out that the critical success factor in the business model of Bio palm is the support and engagement of local community and use of sustainable environment practices.
The SIVA Group Director added that crude palm oil offers attractive financial returns for local communities.
He said SIVA Group plans to ensure significant local employment and development of local skills by providing abroad scholarships.
The Director also said that SIVA Group is willing to work on a partnership with the private sector in Sierra Leone especially the Commercial Banks and other agri-enterpises.
Just this year SIVA Group donated (USD$100,000) one hundred thousand dollars to the Government of Sierra Leone during the 50th Anniversary Celebration for legacy projects in Freetown and three chiefdoms in Pujehun District.
By Saidu Bah