UAE approves oil palm project for Abu Dhabi
UAE approves a project for an oil palm plantation in the UAE’s east.
The state-owned company plans to develop and plant oil palm plantations for $3.5 billion in Abu Dhabi.
It also said it would finance another $2 billion in a separate project.
The project, which is expected to start in 2019, will include a park, a golf course, a swimming pool, a residential complex, and restaurants and bars.
Oil palm development is a contentious issue in the Gulf Cooperation Council.
The UAE has been the world’s largest producer of oil palm and has been accused of not being transparent about its plans.
In June, UAE officials announced they were planning to plant an oil and gas park in the capital Abu Dhabi, a move that was condemned by environmental activists.
In May, the UAE announced it would invest $1.5 trillion in oil palm development in the region, and said it hoped to see more projects in the future.