MADHYA Pradesh-based edible oil manufacturing company, KS Oils has acquired an additional 35,000 acres in Indonesia for oil palm plantations. With this acquisition, the total land acquired by the company stands at 85,000 acres and it plans to invest Rs 750 crore over a three-year period in palm plantations and production of crude palm oil (CPO) there.
â€œThe land is adjacent to KS Oilsâ€™ current plantation and has been acquired through a joint venture with a local partner, who has a minority stake of 10%,â€ said sources close to the development. The company earlier acquired 50,000 acres in 2008 and has already invested Rs 90 crore in the plantation project. The investment outlay of Rs 750 crore will be met through KS Oil's international subsidiary, KS Natural Resources (KSNR). The money will be used to acquire and develop palm plantations and assets like mills in South East Asia over the next three years.
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