700,000 hectares of oil palm for biofuels in Liberia

Nardina Resources PLC, an extractive industries group, has announced that it has agreed to buy Liberian Forest Products [no website], a group that holds permits covering not less than 700,000 hectares of tropical land in Liberia with commercial agricultural potential, for
Nardina wants to develop a large scale, vertically integrated oil palm and biofuels project. The land has an existing established oil palm plantation of over 8,000 hectares. ‘The project provides the potential for Nardina to develop into a significant vertically integrated producer of biofuels with a competitive advantage through controlling its own feedstock,’ chairman Michael Frayne said in a statement. ‘The outlook for the rapidly growing global renewable energy sector is very positive, driven by high energy prices, government incentives and environmental initiatives.’

Biopact.com