Friday, November 18, 2011

KLK expanding downstream ops in Indonesia, plans RM120m plant

KUALA LUMPUR (Nov 18): KUALA LUMPUR KEPONG BHD [] (KLK) is expanding its downstream operations and plans are under way to build an oleochemical plant in Indonesia costing RM120 million.

KLK's oleochemicals director AK Yeow said on Friday the plant will be ready by 2013.

He said at a media briefing here the PLANTATION [] group plans to build another two oil palm mills in Indonesia over the next two years. The site has yet to be identified.

Meanwhile, KLK chief executive officer Tan Sri Lee Oi Han said the group was looking into the possibility to increase its plantation land bank and possible countries included Papua New Guinea and Africa.

On the outlook for crude palm oil, he said it was unlikely to hit RM4,000 per tonne but 'I would like it to be about RM3,500'.

At midday, CPO for third-month delivery was unchanged at RM3,212 per tonne.

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