By Tunde Osho
Okomu Oil Palm Company Plc has notified its shareholders and other stakeholders of plan to unveil new plantation.
According to the company, the new plantation referred to as Extension 2 will be commissioned by Governor of Edo State, Godwin Obaseki on March 14, 2018.
In a notice to the Nigerian Stock Exchange (NSE), the Company Secretary, Christian Mariere, said: “Okomu Oil Palm Company wishes to notify its shareholders and other stakeholders that it has commenced arrangement to commission its extension 2 Estate at Ovia North East Local Government Area of Edo State.
“It is expected that the company will establish a second oil palm mill at that location very shortly.
“This will significantly increase the company’s production capacity and to a large extent the financial return of the company.”
Meanwhile, the company has reduced downward price of its specialty oil called the Banga oil.
Big Size is now N13, 000 from N15, 500 while Small Size is N6, 500 from N7700.