Chinese-Malaysian group eyes $2b rice investment

rice plantation1A Chinese-Malaysian agribusiness joint venture plans to launch a $2 billion rice and soya beans plantation and processing project by November 2013 in Indonesia, the group said on July 21.

The venture will consist of China’s Liaoning Wufeng Agricultural, a large plantation company, and Malaysian Amarak Group together with Indonesian company Tri Indah Mandiri.

The plan is to grow and process rice and soya beans in Subang, West Java, with Amarak contributing up to 20 per cent of the initial investment, which could eventually reach $5 billion and 1 million hectares of plantations. Around 80 per cent of the group’s production will cater to the Indonesian market, it said.

The company will also produce rice vinegar and rice bran oil. Tri Indah is currently readying a large 50,000 hectares trial plantation in West Java, working with local farmers.

Established in 2000, Wufeng has 24 plants and 2,000 employees in Liaoning province in China’s northeast. It has expanded to Thailand, Vietnam and Cambodia, where it grows rice to supply mainland China. The Indonesian project will be Wufeng’s first venture that will directly cater to an overseas market.

The company may seek to raise an additional $1 billion from an initial public offering in Shanghai or Hong Kong later in 2013.



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A Chinese-Malaysian agribusiness joint venture plans to launch a $2 billion rice and soya beans plantation and processing project by November 2013 in Indonesia, the group said on July 21. The venture will consist of China's Liaoning Wufeng Agricultural, a large plantation company, and Malaysian Amarak Group together with Indonesian company Tri Indah Mandiri. The plan is to grow and process rice and soya beans in Subang, West Java, with Amarak contributing up to 20 per cent of the initial investment, which could eventually reach $5 billion and 1 million hectares of plantations. Around 80 per cent of the group's...

rice plantation1A Chinese-Malaysian agribusiness joint venture plans to launch a $2 billion rice and soya beans plantation and processing project by November 2013 in Indonesia, the group said on July 21.

The venture will consist of China’s Liaoning Wufeng Agricultural, a large plantation company, and Malaysian Amarak Group together with Indonesian company Tri Indah Mandiri.

The plan is to grow and process rice and soya beans in Subang, West Java, with Amarak contributing up to 20 per cent of the initial investment, which could eventually reach $5 billion and 1 million hectares of plantations. Around 80 per cent of the group’s production will cater to the Indonesian market, it said.

The company will also produce rice vinegar and rice bran oil. Tri Indah is currently readying a large 50,000 hectares trial plantation in West Java, working with local farmers.

Established in 2000, Wufeng has 24 plants and 2,000 employees in Liaoning province in China’s northeast. It has expanded to Thailand, Vietnam and Cambodia, where it grows rice to supply mainland China. The Indonesian project will be Wufeng’s first venture that will directly cater to an overseas market.

The company may seek to raise an additional $1 billion from an initial public offering in Shanghai or Hong Kong later in 2013.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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