The Sugar Groups Company (SGC) has announced plans to invest $700 million in a sugar factory and plantations.
"The company wants to build a sugar factory and expand its sugarcane plantations by 60,000 hectares to 100,000 hectares over a period of two years," president Gunawan Yusuf said Monday (26/2/07), according to Antara news agency.
Yusuf said SGC will rely on the government to provide suitable land for the new plantations in any area in the country. He said SGC is ready to help develop peatlands in Central Kalimantan and utilize non-productive lands in Sumatra.
Earlier, President Susilo Bambang Yudhoyono promised to provide land for the company in South Sumatra, Papua or Kalimantan to grow sugarcane to produce feedstock for bio-fuel.