Multistrada seeks partner to develop rubber plantation

Wed, 01/25/2012 - 18:08

Jakarta-listed tire maker PT Multistrada Arah Sarana is seeking a joint venture partner to develop rubber plantation in Indonesia.

Company President Director Pieter Tanuri told the press on Wednesday that the company has been in talks with several potential partners from China and Japan, but no decision has been taken.

“Actually many companies have expressed interest to enter (into the joint venture), but most of them want to become a majority shareholder.  We don’t want that, because what we want is to form a joint venture.  So it will probably be clearer within the next two or three months,” he said.

Pieter previously said that the company plans to open up a rubber plantation on a 33,000 ha of concession, and also set up a rubber processing facility, as part of a strategy to ensure raw material supply for the company’s tire production.

Pieter said that the planned rubber business could also become a major revenue contributor going forward. (rei)

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