RNI to develop 100,000 ha of oil palm plantation

Mon, 04/09/2012 - 14:46

State-owned plantation firm PT Rajawali Nusantara Indonesia (RNI) plans to open up 100,000 ha of new oil palm plantation in South Sumatra.

Company President Director Ismed Hasan Putro said over the weekend that the company will need around Rp 1.25 trillion to finance the expansion program.

The company, through subsidiary PT Mitra Ogan has already developed 36,000 ha of oil palm plantation in South Sumatra, Ismed was quoted by Kompas.com as saying.

He said that the new oil palm acreage development would be carried out by another subsidiary called PT Laskar.

Ismed said that financing will partly come from bank loans and funds held by the holding company of state-owned plantation firms. (rei)

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