• Short Summary

    THE IVORY COAST TOOK A BIG STEP ON THURSDAY TOWARDS BECOMING AFRICA'S BIGGEST PALM-OIL PRODUCER WITH THE INAUGURATION BY PRESIDENT HOUPHOUET-BOIGNY OF THE FIRST OF EIGHT PROJECTED PALM-OIL REFINING WORKS.

  • Description

    THE IVORY COAST TOOK A BIG STEP ON THURSDAY TOWARDS BECOMING AFRICA'S BIGGEST PALM-OIL PRODUCER WITH THE INAUGURATION BY PRESIDENT HOUPHOUET-BOIGNY OF THE FIRST OF EIGHT PROJECTED PALM-OIL REFINING WORKS. THE REFINERY, WHICH COST 300,000,000 CFA OF FRANCS (GBP500,000 STERLING) IS AT ELOKA, 15 MILES (25 KMS) NORTH EAST OF ABIDJAN.

    THE ELOKA REFINERY WILL HAVE AN ANNUAL PRODUCTION OF 7,000 TONS. WHEN THE OTHER SEVEN REFINERIES ARE COMPLETED IN THE NEXT FIVE YEARS, THE IVORY COAST WOULD BE ABLE TO EXPORT ABOUT 135,000 TONS OF PALM OIL A YEAR, OR ABOUT 12.5 PER CENT OF THE TOTAL COMING ON THE WORLD MARKET ANNUALLY.

    ALL EIGHT REFINERIES ARE BEING BUILT WITH THE HELP OF THE EUROPEAN COMMON MARKET'S DEVELOPMENT FUND, WHICH IS INVESTING SOME 15,000-MILLION CFA FRANCS (GBP25,000,000 STERLING) IN VARIOUS IVORY COAST PROJECTS. THE FUND LENT THE IVORY COAST 9,000-MILLION CFA FRANCS (GBP15,000,000 STERLING) IN 1965 TO START A NUMBER OF HUGE PALM GROVES TO SUPPLY THE PROJECTED REFINERIES.

    ALSO AT THE INAUGURATED OF THE ELOKA REFINERY WAS A COMMON MARKET DELEGATION LED BY M. HENRI ROCHEREAU, CHAIRMAN OF THE ORGANISATION'S EXTERNAL RELATIONS AND DEVELOPMENT GROUP. M. ROCHEREAU SAID IN A SPEECH THAT THE IVORY COAST'S ACTION WAS THE "PROOF OF THE SUCCESS OF OUR UNDERTAKING" AND "THE SYMBOL OF THE BENEFITS OF CO-OPERATION BETWEEN EUROPE AND AFRICA".

    THE DAY AFTER THE INAUGURATION, FRIDAY, THE IVORY COAST NATIONAL ASSEMBLY AGREED TO THE SETTING UP OF A NATIONAL BANK FOR THE DEVELOPMENT OF AGRICULTURE WITH AN INITIAL CAPITAL OF 700-MILLION CFA FRANCS (ABOUT GBP1,180,000 STERLING), AND ALSO AGREED TO PROVIDE FOR A PUBLIC INVESTMENT OF 116,000-MILLION CFA FRANCS (GBP178,000,000 STERLING) UP TO 1970.

  • Tags

  • Data

    Film ID:
    VLVA8F2XVKWO1C3A23G13YQOHVT0E
    Media URN:
    VLVA8F2XVKWO1C3A23G13YQOHVT0E
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    07/01/1968
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:37:00
    Time in/Out:
    /
    Canister:
    N/A

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