Mon, 20 Aug 2007
The government plans to establish a holding company for state-owned plantation companies in 2009, State Minister for State Enterprises Sofyan Djalil said.

The plan is expected to increase the equity of state plantation companies by 107% to Rp62.27 trillion ($6.9 billion) that year, he was quoted as saying by Antara.

The holding company will group PTPN I-XIV, which operate oil palm, rubber, and tea plantations and PT Rajawali Nusantara Indonesia (RNI), which operates sugar plantations and factories.

The holding company will handle investment, marketing and strategic policies, Djalil said.

Earlier, he said a holding company for plantation companies would be established in a month. It turns out it is not as easy as expected, he acknowledged, saying it would need lengthy talks with other related ministers, especially the chief economics minister and the finance minister.



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