Locations Careers
Careers
Career Streams
Future Leaders Programme
Opportunities
Locations
Contact Us
Subscribe
Group Sites

© 2022 Olam Group All Rights Reserved Co. Reg. No. 202180000W

      About Us
      Our Purpose
      Group Overview
      Olam Food Ingredients
      Olam Agri
      Remaining Olam Group
      Board of Directors
      Our Leadership
      Ethics & Compliance
      Our Businesses
      Sustainability
      Sustainability Framework
      Food Safety & Quality
      Priority Areas
      Climate Action
      Diversity & Inclusion
      Economic Opportunity
      Education & Skills
      Healthy Ecosystems
      Healthy Soils
      Nutrition & Health
      Reduced Waste
      Safe & Decent Work
      Water
      Innovation & Technology
      Farmgate
      Olam Food Prize
      Sustainable Supply Chains
      Sustainable Cocoa
      Sustainable Coffee
      Sustainable Hazelnuts
      Sustainable Palm Oil
      Sustainable Rice
      Sustainable Wood Products
      Governance
      Policies and Positions
      Grievance
      Reporting
      Annual Reporting
      Investors
      Annual Reports
      Financials
      Financial Results
      Financial Calendar
      Financial Dashboard
      Historical Financial Data
      Strategy
      Our Re-organisation
      Proposed Demerger & IPO of ofi
      Announcements
      Shareholder Centre
      AGM 2024
      AGM/EGM
      Circulars & Prospectus
      Dividends
      Shareholding Structure
      Notification of Interest of Change
      Governance
      News
      1. Home
      2. News
      3. olam-international-to-partner-gabon-government-to-develop-special-economic-zone-for-timber-processing-in-gabon

      Press Release

      Get in Touch

      Olam International to Partner Gabon Government to Develop Special Economic Zone for Timber Processing in Gabon

      Press release 20th Aug, 2010

      Olam International, a leading global integrated supply chain manager and processor of agricultural products and food ingredients, today announced that it has entered into a strategic partnership agreement with the government of Gabon to jointly develop a Special Economic Zone (SEZ) at Nkok for timber processing in Gabon.

      To encourage local processing of logs and export of high value-added wood products, the government of Gabon has indicated its intention to set up an SEZ that offers developed infrastructure and fiscal incentives for the timber industry to invest in timber processing activities in the country.

      Gabon is one of the key origins identified in Olam’s wood products growth strategy for accessing forestry concessions and saw milling opportunities.  Olam currently owns 400,000 hectares of forestry concessions for tropical hardwoods in Gabon.  This joint development with Gabon to develop an SEZ for timber processing supports the company’s interest to expand its forestry concessions and timber processing activities in Gabon.  As one of the participants in the proposed SEZ, Olam will be eligible for additional forestry concessions that are reserved for all participants.

      The strategic partnership between Olam and the government of Gabon also paves the way for Olam to tap into new agricultural investment opportunities that fit into its long term strategic growth plan in Gabon.

      Olam will invest US$12 million equity in the SEZ development project for a 60% stake in a joint venture vehicle.  The government of Gabon holds the balance 40% interest.

      Back to News & Events
      About Olam International Limited
      Olam International is a leading global integrated supply chain manager and processor of agricultural products and food ingredients, sourcing 20 products with a direct presence in 64 countries and supplying them to over 10,600 customers. With direct sourcing and processing in most major producing countries for its various products, Olam has built a global leadership position in many of its businesses, including cocoa, coffee, cashew, sesame, rice, cotton and wood products. Headquartered in Singapore and listed on the SGX-ST on February 11, 2005, Olam currently ranks among the top 40 largest listed companies in Singapore in terms of market capitalisation and is a component stock in the Straits Times Index (STI), MSCI Singapore Free, S&P Agribusiness Index and the DAXglobal Agribusiness Index. Olam is the only Singapore firm to be named in the 2009 Forbes Asia Fabulous 50, an annual list of 50 big-cap and most profitable firms in the region. It is also the first and only Singapore company to be named in the 2009 lists for the Global Top Companies for Leaders and the Top Companies for Leaders in the Asia Pacific region by Hewitt Associates, the RBL Group and Fortune.

      More information on Olam can be found at www.olamgroup.com.

      Also in the News

      Press release
      9th Apr, 2024

      Olam Group publishes 2023 Annual Report: “Strengthening Connections for a Sustainable Future”

      Singapore Olam Group Limited (“Olam Group”) today published its 2023 Annual Report, which highlights the Group’s financial and non-financial achievements across three comprehensive components: Strategic Report, Governance Report and Financial Report. The Annual Report details key updates and highlights for the Group in 2023, including: Long-term growth and value creation for shareholders: Double-digit EBIT growth at both ofi and Olam Agri, reinforces the sharper focus and core business transformation that underpins the Re-organisation plan Launched a share buyback programme within the current mandate and renewal of this mandate at the upcoming Annual General Meeting on April 25, 2024. Sustainability focus: Each of Group’s operating groups are advancing their approach to sustainability in line with their business strategies, focused on key areas where they can make a positive
      Read more
      News
      9th Nov, 2023

      Olam Agri and Nutrifoods Support Akosombo Flood Victims

      Olam Agri, the country’s leading supply chain manager in agri-commodity, and its sister company, Nutrifoods, a top food manufacturer in Ghana, on Friday, presented a consignment of relief items to flood victims of the Akosombo Dam spillage.  In mid-October, the Volta River Authority (VRA) began spilling water from the Akosombo reservoir to protect the dam from overtopping. The influx of large volumes of water has raised levels, causing excessive flooding in several low-lying areas along the Volta River, including, but not limited to, Mepe, Battor, Sogakope, Mafi, Adidome, and Ada.
      Read more
      Blog
      20th Mar, 2023

      Building a Business that Conserves Forests, One Step At a Time

      “I have worked in the Congo basin for years, but nothing could have prepared me for the moment when I was just steps away from Buka, who belongs to one of the four groups of habituated silverback gorillas living in the vicinity of our forest concessions in the Congo Basin,” says Vincent Istace, Head of Corporate Responsibility & Sustainability at Congolaise Industrielle des Bois (CIB), an Olam Agri subsidiary. Personal pictures of Paki Paki taken by Vincent Istace in 2021. © Vincent Istace “This landscape is ideal for wildlife viewing compared to other natural forests in the area. The forest is more open, making it easier to see and spot gorillas and other wildlife. This feature has made sites such as Mondika one of the world’s most interesting spots for the study of great apes. It may surprise some to hear that critical gorilla and chimpanzee habitats around the buffer zones of Nouabale-Ndoki National Park, are also where sustainable timber harvesting is practiced.” Forest
      Read more

      Subscribe to Our News Alerts

      Subscribe
      arrow

      Olam Group

      Blog

      Read about the latest developments across the business, including our global sustainability initiatives.
      Read Our Blog

      © 2023 Olam Group All Rights Reserved Co. Reg. No. 202180000W