08/02/2011 (Today Online) - Singapore agri-business firm Wilmar International plans to invest US$900 million ($1.15 billion) to construct crude palm oil derivative plants in Indonesia, the Industry Minister said yesterday.

"They plan to start construction this year and they want to invest US$900 million within two years for several plants," Mr M S Hidayat told reporters, adding that the Singapore-listed Wilmar will produce crude palm oil derivative products such as margarine and soap.

Palm oil is one of Indonesia's main export commodities.

A Wilmar spokesman in Singapore declined to comment.