Publicly listed PT Bakrie Sumatera Plantations plans to add 50,000 hectares to its oil palm plantation by 2010 with an investment of US$260 million.<\/p>\n
\"Thirty-million dollars will be financed by equity from Bakrie Sumatera's new subsidiary PT Bakrie Sentosa Persada (BSP), $80 million from an international consortium equities and the remainder with bank loans,\" president director Ambono Janurianto said Wednesday.<\/p>\n
Bakrie Sumatera established the palm oil producer BSP in June 2007.<\/p>\n
Ambono said the expansion area, located in Central Kalimantan and Riau, Sumatra, was expected to contribute a profit of $100 per hectare, totaling $5 million per annum.<\/p>\n
Bakrie Sumatera now operates 87,415 hectares of plantation, with 67,745 hectares for oil palm and the rest for rubber.<\/p>\n
Ambono said the holding company aimed to expand its plantation area to 200,000 hectares by 2011.<\/p>\n
Bakrie Sumatera, the country's fifth-largest plantation owner by value, booked a 794 percent increase in its first quarter net profit to Rp 18.5 billion (US$1.99 million) over the same period last year.<\/p>\n
\"The year 2007 was really a great year for palm oil and natural rubber as prices surged to levels never reached before,\" said president commissioner Soedjai Kartasasmita.<\/p>\n
In 2007, the world crude palm oil price reached $600 to $800 per ton up by 100 percent from 2006.(rff\/**)<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/bakrie-to-expand-oil-palm-plantation-area-1210828448", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }