Government starting Joint Venture with Singapore Rubber Producer

Olam, the commodity supplier controlled by Singapore’s Temasek, says it will start rubber production from plantations it owns in a venture with Gabon’s government.Olam intends to sell the rubber to Michelin, Europe’s biggest tyremaker, Tiburce Bobedzang, a plantation official, said from Batouri in the northern region of Gabon. About 7 493 hectares of rubber plants “are about to go into production,” Bobedzang said.

Olam established itself in the central African country in 1999 and has concluded a deal with its government to develop at least 28 000 h/a of rubber plantations. Olam’s partnerships with the nation extend to palm oil and fertiliser. “Our objective is to plant 5 000 h/a per year in order to become major rubber producers in Africa,” Bobadzeng said.

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