Cargill enters RI plantation

Cargill enters RI plantation

SINGAPORE (Dow Jones): Cargill Inc., Golden Agri-Resources Ltd. and Temasek Holdings signed a joint venture agreement Friday to own, develop and operate palm-oil plantations in Indonesia, according to a Golden Agri-Resources' company release.

The pact combines the strengths of each partner. Cargill's global trading capabilities, Golden Agri-Resources' experience in managing Indonesian palm-oil plantations and Temasek's investment experience in Asia, the release said.

Indonesia is the world's second largest palm-oil producer.

U.S.-based Cargill is an international marketer, processor and distributor of food, financial and industrial products.

Golden Agri-Resources is a large producer and maker of palm- based products and Temasek Holdings is an investment holding company which owns and manages the Singapore Government's investments, both locally and overseas.