LONDON (ShareCast) - (ShareCast News) - DekelOil Public Limited has announced plans to increase the capacity of its crude palm oil extraction mill in Côte d'Ivoire at a reduced cost.
On Monday, the operator and 100% owner of the profitable and vertically integrated Ayenouan palm oil project in Côte d'Ivoire said it would increase the capacity of the extraction mill, one of Africa's largest, by 25% to 75 tonnes per hour from 60 tonnes per hour, enabling the company to maximise production during the peak harvesting season in the country, typically from mid-February to early June.

The upgrade was said to cost no more than €100,000 inclusive of installation, with the order of necessary equipment already placed with PalmitEco Engineering Sdn Bhd, the Malaysian engineering company which constructed the Mill.

DekelOil's executive director Lincoln Moore said the low cost upgrade would help increase peak production capacity.

"We believe this non-disruptive, low cost upgrade will help avoid the bottlenecks that can arise when processing high volumes of fruit, and as a result it will materially increase peak production capacity.

"This will allow us to take full advantage of the peak harvesting season, thereby increasing production and revenues. Maximising cash flows at Ayenouan will help fund further expansion of the business as well as our progressive dividend policy, and I look forward to providing further updates on our progress."

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