Inti Kapuas to buy more oil palm plantations

Jakarta (ANTARA News/Asia Pulse) - PT Inti Kapuas Arowana said it has set aside US$120 million to acquire more oil palm plantations.

Earlier Inti Kapuas signed an agreement for the acquisition of the palm plantations of PT Dendymarker Indahlestari and PT Anam Koto at a price of US$80 million from Malaysia's Boustead Estates Agency.

Corporate secretary Veronica Dini Krissanti said after a shareholders' meeting yesterday part of the fund will also be used to expand the land bank for the future expansion of oil palm plantations.