Leading agribusiness company PT Asra Agro Lestari said it will acquire 17,000 hectares of palm oil plantation this year, mainly in East Kalimantan, Antara reported.
The acquisition is part of its plan to expand its oil palm plantations by 100,000 hectares by 2010, director Bambang Palgunadi said.
Palgunadi said the process of acquisition is already in progress for 20,000 hectares in Aceh, 40,000 hectares in Morowali, Central Sulawesi and 10,000 hectares in South
Currently the company has 200,000 hectares of oil palm plantations with crude palm oil (CPO) production totaling 917,885 tons last year.
With the addition of the 100,000 hectares in 2010, its CPO production is expected to rise to 1.5 million tons a year, Palgunadi said.
The company also plans to acquire 5,000 hectares of rubber plantations in Central Kalimantan.