In January, Liberian officials are set to finalise negotiations
for a US$1.6 billion palm oil investment deal with Indonesia's
Golden VerOleum. The past year has seen a number of feasibility
studies into weather and land conditions, and production is scheduled
to begin nine months into 2010, should negotiations proceed at
pace. Richard Tolbert, Chairman of the National Investment
Commission, told Africa-Asia Confidential that a crucial
moment for this deal will be the major diligence meeting in January.
An insider close to the deal said that a quick start-up was unlikely
because the government and the Indonesians were headed for a 'tough'
series of negotiations over the fiscal terms. The initial breakdown
of the $1.6 bn. includes $850 million to develop the land and
associated infrastructure, $400 mn. to build at least 20 palm
oil refineries, $250 mn. for housing and $100 mn. for machinery....
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