Local company, Silomco Ltd seeks a Joint Venture arrangement to develop a potential oil palm project.

A view from above of a palm oil plantation. Credit: pexels

The project is located in Wewak, East Sepik Province to Telefomin (Headwagi area) in the West Sepik Province and the project proponent is seeking an investment value of K2 mil- lion (USD$620 million) for this project which holds potential in growth.

The total amount of land proposed for cultivation and associated infrastructures is 450,000 hectares while a further 150,000 can be made available for other agricultural, live- stock and forestry developments.

The Silomco Project recognizes food security as an important goal to strive for and this project aims to address this issue amongst others. The business plan involves a core asset of 50,000 hectares as the central plantation while 350,000 hectares will be sub-divided into smallholder blocks of seven hectares each (50,000 blocks).

The remaining 50,000 hectares will be reserved for all other associated and complementary infra- structures such as a road network, an airstrip, a township with associated amenities and buffer zones including conservational areas and parks. It is expected to have up to 40 milling plants, several refineries and a biofuel processing plant.

The project proposes to construct a main highway of up to 120 kilometres connecting Aitape where a seaport (wharf) will be built to take delivery of incoming goods and shipment of finished products to markets.

The project proponents are seeking for potential developers with the technical capabilities and financial capacity to discuss options under a Joint Venture arrangement in developing this project.

About the project

Project proponent: Silomco Ltd

Sector: Oil Palm

Location: East Sepik Province to Telefomin District (Headwagi LLG) of West Sepik Province

Project size/Investment Value: USD $620m (K2m)

For further information please contact the following via email sunset4216@gmail.com, or Mr Kamis Yalakun (Manager – Investment Promotion Unit, IPA, Tel: 308 4531 and email kyalakun@ipa.gov.pg.

Advertiser:  Investment Promotion Authority Website: https://www.ipa.gov.pg Email:  kyalakun@ipa.gov.pg Phone: 308 4531