Glucose venture set up

Glucose venture set up

JAKARTA (JP): The publicly-listed PT Budi Acid Jaya announced
yesterday that it has received approval from the Investment
Coordinating Board to set up a US$18 million glucose and high
fructose plant.

The new plant, to be called PT Associated British Budi, is a
joint venture between Budi Acid and British Sugar Overseas Ltd.,
a subsidiary of the publicly-listed Associated British Foods.

The company said that Budi Acid will take a 50.1 percent stake
in the new the venture and British Sugar the remaining 49.9
percent.

The new plant in Karawang, West Java, will have a production
capacity of 50,000 tons per annum for both glucose and high
fructose.

"We will start the plant construction soon and we expect the
new plant to commence commercial production in early 1997," said
Winarto, the chairman of Sungai Budi Group. (08)