Bidco’s $25 million edible oil complex in Jinja was officially launched on Friday 28th October while the 1st phase of the $140 million oil palm was launched on Monday 31st October 2005. The two projects represent the largest single foreign direct investment in Uganda in resent times.

Speaking during the launch, His Excellency thanked Bidco for having chosen to invest in Uganda and urged more international investors to consider the East African region which still has great potential for investment. The president also championed Agro processing industries as a way of reducing the high levels of poverty in Africa. “We should not be exporting raw materials when we can make more money by adding value and exporting the finished product” He said.

Bidco Uganda Ltd has in less than ten months Bidco has constructed East Africa’s most modern edible oil complex in Jinja with a capacity of 300 metric tonnes per day for oils and 150 metric tonnes per day for soaps. The complex also houses an ultramodern blow molding plastics plant.” The plant already employs more than 400 staff and has started distributing and marketing its products in the market.

In addition to the Edible oil Complex Bidco also officially launched its Oil Palm project on Bugala Island, the largest of the Sesse Islands of Lake Victoria. Already more than 2000 hectares of land has been planted with high oil yielding oil palm trees from Malaysia. A total of 6500 hectares will have been planted by June 2006 marking the end of the first phase of the project. At full production the oil palm project will make Uganda self sustaining in edible oil requirements and save the country more than $60 million used to import crude palm oil.

“This project can easily emulate the success story of Oil Palm plantations in Malaysia. In less than fifty years Malaysia has been able to produce more than 13 million tonnes of palm oil per year which is more than 50% of the world requirements. What can stop Uganda from achieving this kind of success? We strongly believe that we are on the right path by bringing the oil palm back to Africa.” Commented Mr. Vimal Shah Bidco’s Group CEO.

Bidco Uganda Ltd is a partnership made up of some of the worlds leading companies in this industry. These are Archer Daniels Midlands ADM of America, Wilmar Group of Malaysia and Josovina of Singapore.