As stated on the project disclosure page, the proposed IFC investment is a project finance loan with use of proceeds to support an investment of up $350 m to Olam Palm Gabon of which US$150 m would be from IFC’s own account and the remaining amount to be syndicated and financed by IFC’s Parallel lenders. The proceeds will be used for (i) the maintenance of the entire palm oil project which includes OPG’s 63,330 ha of developed palm oil plantations (Awala, Makouke, Mouila Lot 1, 2 and 3, and Ndende), three palm oil mills and kernel crushing plants at Awala, Mouila Lot 1 and 3, crude palm oil (CPO) refinery in Lambarene, and all ancillary facilities (e.g. biogas co-generation power plant at the Awala mill, 24,000 ha drip irrigation system at Makouke and Mouila Lot 1, 2 and 3, CPO bulking station at Owendo port, worker’s accommodations, Crop Protection Products (CPP) and fertilizers warehouses, and maintenance workshop), (ii) capital expenditure, including the construction of a bio-diesel plant and refinery at Owendo port, construction of a 4th mill at Mouila Lot 2 or 3, including a kernel crushing plant, roll-out of the remaining 20,000 ha of drip irrigation project at Makouke and Mouila plantations, biogas co-generation power plants at three mills, namely Mouila Lot 1, 3 and at the proposed 4th mill, and other maintenance, logistics, and building additions/upgrades), and (iii) partial repayment of the shareholder loan from the sponsors.
Detailed locations of project activities are listed in below link at Olam Group ’s website (“View Our Plantation Locations”): https://www.google.com/maps/d/u/1/viewer?mid=14dfeS1Tch4LqkIOi-8Io8445tOeggRf5&ll=-0.17200352574736424%2C10.995013000000004&z=7.
OPG is a palm oil joint venture between Olam Group Holding (60%) and the Government of Gabon (40%), established in 2011. Olam Group Holding is part of Olam Group Limited, a global agribusiness group listed on the Singapore Exchange.
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General IFC Inquiries - IFC Communications:
Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384
Client - Olam Palm Gabon SA:
Address: Galeries Tsika, 2nd floor, BP 1024, Libreville, Gabon
Phone: (+241) 02 12 31 31
Fax: (+241) 01 76 14 84
Parent Company - Olam Global Holdco Pte. Ltd:
Mr. Venkataraman Krishnan - Global Head, Strategic Investments and Business Development
Phone: +65 6339 4100
Address: 7, Straits View, #20-01, Marina One East Tower, Singapore 018936
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