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)