RENL to build rubber processing factory, expand plantations in Edo
Rubber Estates Nigeria Limited (RENL) in partnership with Edo State Investment Promotion Office (ESIPO), is establishing a rubber process factory in Edo State as part of efforts to boost rubber production in state.
Kelvin Uwaibi, Managing Director of ESIPO, who disclosed this to journalists, said the partnership is a major step forward for the state’s rubber industry.
He said aside establishing a factory, the partnership also include the development of out-grower schemes, the provision of land for rubber plantations, and management of dormant plantations for diasporas.
“Rubber is a valuable commodity with a growing global demand, and Edo State has the potential to become a major producer. This partnership will help us to realize that potential.”
ESIPO is a one-stop shop for investors seeking to invest in Edo State and provides investors with a range of services, including information on investment opportunities,
assisting with land acquisition and permits, facilitation of connections with local businesses and partners and support with aftercare services.
On his part, the Managing Director of RENL, Olivier Odoukou, said they believe that Edo State has the potential to become a major producer of rubber and that the company is committed to helping the state achieve that goal.
He said the partnership between ESIPO and RENL is expected to create jobs for Edo residents and boost the state’s economy.
He said the rubber processing factory is expected to employ hundreds of people while the outgrower schemes will provide income for thousands of smallholder farmers.
He explained that RENL is a subsidiary of Socfin - a leading global agribusiness company, with proven track record of success in developing rubber plantations in Africa.
He said they are committed to replicating that success in Edo State.