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24 Oct 2018 | 14:19

DekelOil Public says cashew project construction imminent

West-African focused agribusiness DekelOil Public said it expected to be on the brink of having two producing projects in about a years' time

The company recently secured an option to acquire 58% of an initial 10,000 tonnes per annum cashew processing project at Tiebissou, which was currently under development.

It had also broken ground on our second palm oil project in Guitry.

'By securing an option to acquire a controlling stake in a cashew project which is about to commence the 12 month construction phase shortly, we have been able to dramatically accelerate this process,' chief executive Youval Rasin told the group's AGM.

'Today, DekelOil has a portfolio of three agriculture projects in Cote d'Ivoire: one of which is already producing and two that are under development.'

'This time next year, as Tiebissou approaches first production, we expect to be on the brink of having two producing projects.'

At 2:19pm: (LON:DKL) DekelOil Public Ltd share price was -0.1p at 3.5p

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