Siat Invests N36.15bn To Revive, Upgrade Rivers Palm Oil Firm

The management of Siat Nigeria Limited (SNL) formerly known as Risonpalm Nigeria Limited (RNL) located at Ubima in Ikwerre Local Government Area of Rivers State has pumped in a total investment of N36.15billion over the last 11 years to revive and upgrade facilities to stabilise and optimise operations at the company.
Chief Operating Officer of the company, Mr. Christopher Kwasi Tsogbe, disclosed this during a courtesy call by the management of the Rivers State Newspaper Corporation, publishers of The Tide, to its head office at Ubima, last Friday.
Tsogbe also expressed optimism that the company would realise its full potentials by 2033.
He said the company currently operates two estates of 16,000 hectares of palm trees at Ubima and Elele, while out-grower farmers were also encouraged through regular purchase of fruits.
The COO further explained that the management was pursuing an aggressive palm replanting work plan at its two estates, saying that the Elele farm had been fully replanted, while the Ubima estate was methodically being replanted, with plans in top gear for 2023 and 2024.
He noted that with the company’s mill in operation and other ancillary facilities playing complimentary roles, Siat was on the path to attain full capacity utilisation.
Tsogbe said the company has a robust community relations policy, noting that 50 students from the host communities were currently on scholarship ofN100,000.00 per head, while one of its host communities was enjoying steady power supply from the company.
He added that efforts were being made to extend regular power supply to other communities.
He said over 5,500 regular employees,21 managers and eight expatriates were in the employment of the company, adding that majority of its workforce come from host communities.
According to him, the company also ensures that its activities do not impact negatively on the environment, stressing that natural habitat and biodiversity were jealously protected and conserved.
Tsogbe added that 70percent of its energy generation was from green energy, and noted that the palm oil company was self-sufficient in power generation and supply.
“Siat Nigeria Limited is committed to providing services in a manner that ensure a safe and healthy workplace and minimise its potential impact on the environment.
“It operates in compliance with all relevant environmental legislation and strives to use pollution prevention and environmental best practices in all its operations”.
He said the company remains committed to improving its relationship with valued host communities, adding that the communities have been integral part of its success story since 2011.
Responding, the General Manager of the Rivers State Newspaper Corporation (RNSC), Chief Ernest Chinwo, said the visit was to enable the management of the corporation to know more about one of its avowed clients.
Chinwo congratulated the company for the aesthetic conditions of its environment, and expressed the satisfaction that host communities were enjoying robust relationship with the company.
According to him, “from all indications so far, Siat is on the way to bringing back the lost glory of the former Risonpalm”.
Chinwo also commended the company for its consistent patronage of the corporation, and thanked Siat management for its conservation policies.
He also urged them not to rest on its oars until their full potentials are realised.
Highlight of the visit was a tour of the company facilities.
It would be recalled that the former Risonpalm, which was moribund, was taken over by Siat in 2011.

By: John Bibor