KUALA LUMPUR, July 2 (Bernama) -- IJM Plantation Bhd (IJMP) plans toexpand its existing 29,000ha of land bank to 40,000ha in the near future,its managing director, Velayuthan Tan, said at the company's listing onthe Kuala Lumpur Stock Exchange (KLSE) Main Board Wednesday.

It plans to invest between RM60 million and RM80 million over the nextthree years by turning about 4,900ha of land into oil palm plantation, andupgrading the capacity of its third Sabang palm oil mill and palm kernelcrushing plant. Both facilities are located in Sabah.

By next year, the Sabang mill is expected to produce up to 60 tonnes ofpalm oil per hour and the palm kernel crushing plant will be able toprocess 600 tonnes a day.

IJMP took over the listing status of Rahman Hydraulic Tin Bhd after buyingover the rights and on its debut, opened at 95 sen, up 45 sen over itsreference price of 50 sen.

Rahman Hydraulics was delisted from the KLSE today. -- BERNAMA