MARKET DEVELOPMENT
KLK Agro Forms JV With Equatorial Biofuels
KLK Agro Forms JV With Equatorial Biofuels
12/04/2014 (Bernama) - KLK Agro Plantations Pte Ltd and Equatorial Biofuels (Guerney) Ltd have teamed up to form Liberian Palm Developments, to expand plantation landbank outside Malaysia and Indonesia.
KLK Agro is wholly-owned by Kuala Lumpur Kepong Bhd while Equatorial Biofuels is a wholly-owned subsidiary of Equatorial Palm Oil Plc.
In a filing to Bursa Malaysia, Kuala Lumpur Kepong said the joint-venture (JV) was in line with its strategy to expand plantation landbank.
It said the purpose of this venture was also for geographical diversification into the West African region where there is a net deficit of edible oil.
"Liberian Palm Developments' concession land is agronomically suitable and located within 50km of deepwater ports," it said.
The equity holding structure would be 50:50 between KLK Agro and Equatorial Biofuels.
KLK Agro is wholly-owned by Kuala Lumpur Kepong Bhd while Equatorial Biofuels is a wholly-owned subsidiary of Equatorial Palm Oil Plc.
In a filing to Bursa Malaysia, Kuala Lumpur Kepong said the joint-venture (JV) was in line with its strategy to expand plantation landbank.
It said the purpose of this venture was also for geographical diversification into the West African region where there is a net deficit of edible oil.
"Liberian Palm Developments' concession land is agronomically suitable and located within 50km of deepwater ports," it said.
The equity holding structure would be 50:50 between KLK Agro and Equatorial Biofuels.