…Luapula River Valley earmarked for oil palm cultivation
By JOHN SAKALA
Ceylon Trading Limited, a Hong Kongese firm is seeking to invest in oil palm cultivation.
Ceylon joins a list of over 70 local and international companies who have resolved to invest in Luapula Province following the successful hosting of the Luapula Expo and Investment Conference.
Company Managing Director Anjantha Nugawela has expressed interest in the cultivation of oil palm and milling of palm oil, production of crude palm oil and kernel oil.
According to communication from the company, Mr Nugawela explained that once set up, the company would consider working with another investor in setting up a commercial oil palm milling plant.
The company is eyeing 10,000 hectares of land on which it would set up plantations and the milling.
And Luapula Province Minister Nickson Chilangwa said government would seriously consider the proposal by Ceylon as oil palm production needed a serious boost.
Mr Chilangwa said currently, oil palm cultivation is currently being done at Isubilo in Mwense District.
He said government was considering huge investment in oil palm cultivation along the Luapula River Valley where it was being done on a small scale by the local people.
The Minister said government would like the company to make an initial investment on a 5000 hectares of land.