S Korean Co to invest US$2bn in Indonesian maize plantations

Antara | Jul 29, 2008

PALU (AsiaPulse via COMTEX) -- South Korean-based PT Agro Enerpia Indonesia will invest US$2 billion in maize plantations in the Buol district of Central Sulawesi, a regional government spokesman said.

Head of the human relations affairs of the Buol regional government, Musadianto Madusila, said Tuesday Agro Enerpia had conducted a survey of a number of locations in several sub districts for the sites of the maize plantations.

Among the sub-districts it had observed are Bunobogu and Tiloan, he said.

Madusila said the South Korean company needed 25,000 hectares of land for its maize plantations but the land available for maize cultivation in the Buol district was only 10,000 hectares.

The locations are scattered in two sub districts, namely 6,300 hectares in Palele Gadung and 3,700 hectares in Bunobugu.

Madusila said the company would still survey locations in other districts.

"Besides maize plantations, the company will also build maize factories at the project locations," he added.

He said the investor had also observed Ponipingan port through which heavy equipment to support the maize plantation project would be transported into the district.

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