Jakarta (ANTARA News/Asia Pulse) - PT Saratoga Investama Sedaya has said it will invest US$300 million to expand its oil palm plantations in Indonesia to 100,000 hectares this year.
The investment will put the company, which is owned by tycoon Sandiago Uno, among the 10 largest oil palm plantation companies in the country.
Saratoga Director Husni Heron said the company had recently acquired 8,000 hectares of oil palm plantations in Agam, West Sumatra at a price of US$30 million.
It also had 25,000 hectares in West Kalimantan, built with an investment of US$70 million, Husni told the newspaper Investor Daily.
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