UCC Leases 100-acre Land to TOPP Limited for Oil Palm Cultivation
Nov 30, 2022
The University of Cape Coast (UCC), through the College of Agriculture and Natural Sciences (CANS), and the Twifo Oil Palm Plantation (TOPP) Limited have signed a Memorandum of Understanding (MoU) under which the University has agreed to provide one hundred (100) acres of its land acquired at Twifo-Wamaso to TOPP for the sole purpose of oil palm cultivation and production.
Under the agreement, which will remain valid for a period of twenty-eight (28) years subject to a periodic renewal every five (5) years, proceeds from the farm would be shared between the parties on the Abusa basis. That is, TOPP shall take two-thirds of the proceeds while UCC takes one-third.
The terms of the arrangement, however, may be amended by a mutually written agreement prior to the review and any extension to the MoU would be formally agreed in writing by the two (2) parties (UCC and TOPP Limited). A project committee, consisting of eleven (11) members from both parties, shall be responsible for the review function under the agreement.
In order to ensure the smooth implementation of the project, UCC shall only provide farmland needed for the project, and visiting students and lecturers to the project site shall comply with all safety requirements. The University shall also have unrestrained access to the project site, upon notice to TOPP, for purposes of education and inspection.
