BíSifidine Nigeria to Invest in Palm Kernel Processing in Liberia

Thursday, 21st August 2008
Monrovia, Liberia - A delegation from the Nigeria based BíSifiddine  Limited Tuesday paid a courtesy call on Vice President Joseph N Boakai to acquaint him with their desire to invest in Liberiaís oil palm industry.

The Chairman and President of BíSifidine Nigeria Limited, Dr. Abbas Safieddine  informed Vice President Boakai that he was in the country to conclude negotiations to engage in the processing of palm kernel and cultivation of oil palm.

Dr. Safieddine said his company will first rehabilitate an existing oil palm plantation and subsequently cultivate a new plantation.

He pointed out that there are good prospects for the cultivation of oil palm and processing of palm kernel in Liberia.

In response, Vice President Boakai assured Dr. Safieddine that there are great prospects for oil palm and palm kernel production in Liberia, pointing out that the Liberia Produce Marketing Corporation which purchased, processed and shipped palm kernel in the country before the war, abandoned this venture several years ago.

He lauded Dr. Safieddine for his interest in the palm kernel industry, not only because of the importance of this commodity, but also because it will afford rural dwellers the opportunity to earn income.

He observed that palm kernel was a major income earner for rural dwellers before the war, and helped parents to pay their childrenís school fees and meet other financial obligations.

He assured Dr. Safieddine that as long as the price of this commodity is attractive, tons of palm kernel would be produced across Liberia in no time.