Uganda has revived a palm oil expansion project that has been shelved for more than a decade, according to a report published by Bloomberg.
The government initiated the transfer or land on Buvuma Island to Bidco Uganda in the final three months of last year. Bidco is the local arm of Wilmar International and plans to set up a second nucleus palm oil production on the new territory granted to it by the East African nation. In all, the new site should span 4,000 hectares and production could start as early as 2022 once trees become established.
Uganda currently ships in approximately 200,000 metric tons of palm oil per year.