Emmanuel Kendemeh
21 November 2008
The President of Société Financière des Caoutchoucs (SOCFIN), the Belgian company owning the majority of shares in the Cameroon oil palms production company, SOCAPALM, Luc Boedt, has announced that they will increase the share capital of SOCAPALM to about 15 billion CFA francs. Accompanied by the Executive Secretary General of SOCFIN, Philippe de Traux de Wardin, Luc Boedt yesterday had discussions with Cameroon's Prime Minister Ephraim Inoni.
In an interview after the audience, Luc Boedt said, "we announced to Prime Minister Ephraim Inoni that we will begin the operation to introduce SOCAPALM in the Douala Stock Exchange this December, with the aim of modernising and industrialising the company", He explained that the introduction of the SOCAPALM in the Douala Stock exchange will enable the company have increased capital.
This will enable SOCAPALM succeed in its ambitious modernisation and industrialisation programme. SOCFIN officials used the audience to request government's support as they go ahead with the expansion, modernisation and industrialisation of SOCAPALM.
Prime Minister Inoni also later in the evening received in audience senior officials of the Netherlands Commission for Environmental Assessment, the company to carry out the social and environmental impact studies of the Memve'ele Dam project in South Cameroon. The Deputy Chairman of the Netherlands Commission for Environmental Assessment, A (Aad) Van der Velden said they were in Cameroon for their second mission to give impressions of the project to the Prime Minister. He told reporters after the audience that at the beginning of 2009, they will finalise conclusions about the terms of reference for the impact studies.
This will enable the Operational Unit to start the social and environmental assessment proper and their report is expected to be ready by the third or fourth quarter of 2009. Officials of the Netherlands Commission for Environmental Assessment will come back after the report to review the outcome of the study, Van der Velden said.
The Deputy Chairman of the Netherlands Commission for Environmental Assessment was accompanied to the Prime Minister's Office by the company's Technical Secretary R.A.M. (Reinoud) Post and the Chargé d'Affaires at the Netherlands Embassy in Cameroon, Jos Van Dinther.
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