Wilmar plans to invest USD2 bln in Indonesia

Reuters | 21/06/2010

Jakarta, June 21 -- Singapore's Wilmar, the world's largest listed palm oil firm, wants to invest $2 billion in Indonesia, the head of Indonesia's state investment board Gita Wirjawan said on Monday.

Wirjawan said Wilmar was looking at investing in the planned Merauke food estate in Indonesia's eastern Papua region.

"They are considering Merauke to invest in agriculture. We're having discussions with them," Wirjawan told reporters.

Max Ramajaya at Wilmar's Indonesian unit said the firm was looking at a plan to develop integrated sugar cane plantations, and was positive on realising part of the plan within the next five years.

Wilmar told Reuters in Singapore that its planned capital expenditure this year was $1 billion, spread to various regions.

The firm has previously said it wanted to expand by investing at least $1 billion in China, Africa and Indonesia, where it said it had secured land for sugar plantations that might take some years to start.

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