Mon, 02 Jul 2007
The Rajawali Group is planning to invest $400 million to expand its natural resources business, including bringing a coal mine on-line by the end of the year and more than doubling its oil palm plantations over the next five years, the company's chief executive said Thursday, Dow Jones Newswires reported.

Rajawali, which owns some of Indonesia's biggest commodity companies, plans to increase its area under oil palm cultivation over the next five years from 40,000 hectares to 250,000 hectares, said Darjoto Setyawan.

Rajawali, via its unit PT Mandiri Sukses, already owns 100,000 hectares of palm oil plantation in Kalimantan province, of which 60,000 are idle, Setyawan said.

Rajawali unit PT International Prima Kalimantan will aim to start producing coal from its mine site in Kalimantan by the end of this year, Setyawan said.



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