21/10/04 (The Edge Daily) - PPB Oil Palms Bhd’s subsidiary Kalimantan PalmIndustries Sdn Bhd (KPI) has entered into a joint venture (JV) with PTRimba Harapan Sakti and PT Salawati Makmur to develop about 32,200ha inCentral Kalimantan, Indonesia.
In a statement on Oct 21, PPB said the JV would develop the 32,200ha landunder KPI's 90% subsidiary PT Kerry Sawit into an integrated oil palmplantation with crude palm oil mills.
The JV would enable PPB to develop its oil palm plantation area, and waspart of its long-term objective to expand its oil palm operations in theregion, taking advantage of suitable agricultural land and labourresources, it said.
The PPB group has oil palm projects in Sabah and Sarawak as well asSumatra and Central Kalimantan.
PPB Oil Palms signs deal with Indonesian firms
KUALA LUMPUR - Malaysia's PPB Oil Palms Berhad (PPBOP) announced that itswholly owned subsidiary, Kalimantan Palm Industries Sdn Bhd (KPI), hassigned a joint venture agreement with PT Rimba Harapan Sakti and PTSalawati Makmur to develop an oil palm project in Indonesia.
Under the agreement signed on Thursday, KPI and the Indonesian partnerswill jointly develop about 32,200 hectares in Central Kalimantan inIndonesia into an integrated oil palm plantation with crude palm oilmills.
The joint venture partners will also help to market and export productsfrom the project.
The 32,200 hectares of land are owned by PT Kerry Sawit Indonesia (KSI),which is 90% owned by KPI. The remaining 10% stake in KSI is held by theIndonesian partners. The principal activities of KSI are the cultivationof oil palm and processing of fresh fruit bunches.
The PPBOP group has oil palm projects in Sabah and Sarawak in Malaysia aswell as Sumatra and Central Kalimantan in Indonesia.
PPBOP said the joint venture would enable the group to develop its oilpalm plantation area.
It is also part of the group's long-term objective to expand its oil palmoperations in the region, taking advantage of suitable agricultural landand labor resources, it said.