PTP to build industry

PTP to build industry

JAKARTA (JP): State-owned plantation firm PTP Nusantara III is
preparing a 50-hectare plot of land near Tebing Tinggi, North
Sumatra, for an industrial estate specially designed to host
firms processing plantation products.

The company's president, Joharuddin, was quoted by Antara as
saying in the North Sumatra capital city of Medan yesterday that
the premises will consist of rubber, oil palm and cocoa
processing facilities. The companies based there will be expected
to use products from the firm's plantations as raw materials.

Joharuddin said investors for the industrial project are
expected to come both from government and private sector
companies.

Nusantara III was officially established earlier this week as
a merger of three separate plantation firms: PTP III, PTP IV and
PTP V. As a result, Nusantara III's total plantation area is
308,546 hectares, covering areas in Aceh, North Sumatra, Jambi,
West Sumatra and Riau.

From this total, 121,400 hectares are planted with palm oil
trees, 64,400 hectares with rubber trees and 8,691 hectares with
cocoa trees.

Nusantara III currently has an authorized capital of Rp 1.2
trillion (US$521.73 million). (pwn)