Feronia Inc.

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Feronia Inc.
Websitehttp://www.feronia.com

Feronia Inc. is a

oil palm plantations and arable farming business division.[4] The company filed for bankruptcy in 2020 and was delisted from the TSX Venture Exchange.[5]

Feronia's

oil palm plantations subsidiary is PHC - fr:Plantations et huileries du Congo. Feronia PHC operates in the Équateur, Mongala and Tshopo provinces of DRC and consists of three established plantations together with associated infrastructure.[6] The principal products of Feronia PHC are crude palm oil (CPO) and palm kernel oil (PKO). The CPO and PKO products are transported by barge to the capital city of Kinshasa where they are sold into the local markets with any surplus sold to international markets. The local DRC market currently consists of two refining factories located in Kinshasa
which purchase 100% of PHC's production. The refined products which are produced by these factories are sold into the local market in a variety of forms.

Commencing operations in 1911 and founded by

ground nuts, and cocoa. Each of the plantations are located either adjacent to, or in close proximity to the Congo River.[8]
Feronia PHC currently employs approximately 4,000 people making it one of the largest private sector employers in Central Africa.

Local and international organizations have recently voiced criticism of Feronia's operations in the DRC, for carrying out what they characterize as a massive land grab, as well as for operating a brutal system of labour exploitation and community harassment and making corrupt payouts to politically-connected individuals in the DRC. Feronia disputes these allegations[9] and says it is making a huge difference to people's lives in one of the World's poorest places.

References

  1. ^ http://sedar.com/DisplayProfile.do?lang=EN&issuerType=03&issuerNo=00025224 Public Company SEDAR Profile
  2. ^ [1] Businessweek Company Summary
  3. ^ http://reversemerger.dealflow.com/reports/article.cfm?id=clsqpguowvkzdsf Reverse Merger Report
  4. ^ http://farmlandgrab.org/post/view/19239 Feronia's ambitions in Africa extend beyond palm oil
  5. ^ "Feronia Inc. Announces Closing of Restructuring Transaction" (Press release). GlobeNewswire. November 23, 2020.
  6. ^ Reuters Factbox:Major and Emerging Palm Oil Players in Africa
  7. ISBN 978-0-85664-805-2
    .
  8. ^ http://www.feronia.com/oil-palm/operations/ Feronia Oil Palm Operations
  9. ^ "Business And Human Rights Resource Centre" (PDF).

External links

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