TECHNOILOGY signs a new contract with G2i company for the manufacturing of a 200 TPD palm oil refinery and fractionation unit in Ivory Coast. The agreement, finalized in December 2020, is the result of TECHNOILOGY’s attention towards a continent full of potential and more and more interested in European engineering.
The Bleaching and Physical Refining Units will be fully manufactured in our Italian workshop while the Fractionation unit will be fabricated by our branch facility in Malaysia.
“After Nigeria and the Central African Republic, this is the third contract signed in Africa over the last 12 months. We believe the African market is currently one of the most promising markets as while the whole world is struggling with the pandemic, Sub-saharan Africa is holding on better than other countries. Our branch office in South Africa did a great job in a difficult year and I think that 2021 will bring good news very soon..”, declared Andrea Bernardini, Commercial Director of TECHNOILOGY.
Facts and Figures
With a population of close to 400 million people, West Africa is a major consumer of palm oil, estimated at 3.90 million MT in 2019. Last year, Nigeria, the largest country in Sub-Saharan Africa consumed 2.31 million MT, Ghana utilized 680,000 MT, while Cameroon and Ivory Coast palm oil usage totaled about 350,000 MT each.
The palm oil sector represents 2% of the Ivorian GDP and supports 10% of the country’s population. It also represents a major transformation activity either in red oil (1st transformation) or in refined oil (2nd transformation). About 45% of the production is exported to neighboring countries. But while on average, sub-Saharan Africa imports 59% of its palm oil consumption, on its side Ivory Coast imports only 11% of its demand.