29/07/2011 (Reuters) - Malaysian planter IOI Corporation Berhad said on Thursday that its subsidiary would buy 11,977.91 hectares of oil palm plantation land for 830 million ringgit ($282 million) to boost its land bank.

IOI subsidiary Sri Mayvin Plantation Sdn Bhd would acquire the land from Pertama Land and Development Sdn Bhd, a unit of Dutaland Berhad .