2008-07-26 - Global Financial Investment in Agro Industry US$ 335 million
Jakarta - Global Financial Investment Holdings S.A.O.G, an investment company from Oman is ready to invest its funds at agroindustry and compressed natural gas (CNG) sectors, amounting to US$335 million by the end of 2008.
The agro industry sectors aimed by the company based in the Muscat Sultanate of Oman are CPO plantation integrated with CPO processing industry and corn by 2009. Indonesia has a great potential in both of these sectors.
"However, the feasibility study for project realization is currently under development", commented the President Director of PT Energy CNG, Septo Adjie Sudiro at Jakarta. PT Energy CNG acts as a partner company in knowledge of the Global Financial investment plan in Indonesia.
The CEO of Global Financial Company, Sulaiman Ahmed Saeed Al-Hoqani and Septo Adjie Sudiro have met the Minister of Industry Fahmi Idris, who was accompanied by the Directorate General of Agro and Chemical for Industry Benny Wachjudi to discuss about the plan.
Septo said that in the initial stage, the investor from Oman will develop agricultural land to produce rice starting in the 2nd semester of 2008. In accomplishing the plan, Global Investment Company has bought 100 hectares of land in Central Lampung with the total investment of US$10 million.
"We are also interested to develop an integrated CPO plantation. Therefore, we are targeting to own a 500 hectare land, starting from this year until next year.", he responded. Even though the real figures were not mentioned, the total investment cost at integrated CPO plantation with CPO processing industry could approximately reach US$300 million. "We are only preparing this investment fund in terms by adjusting to the demand.", cleared Septo.
Concerning the investment value, Benny added that the company study plan is limited to discussions. In the other hand, the investor is serious to realize the projects next year. "It is assumable that this middle scale investment could reach up to hundreds of millions US$," he declared.
Global Financial investment plan in agroindustry sector focuses on crop sustainability and has yet to consider biofuel industry. "We are interested in Indonesia CPO processing industry. It remains a good prospect.", he added.
CNG Gas
Beside investing in padi fields, rice and integrated CPO plantation, they are also going to invest US$25 million in building a compressing natural gas factory. The Minister of Industry, Fahmi Idris said that the investor from Oman with local partners in Indonesia, PT Energy CNG are interested in developing CNG as an automotive fuel source, especially for cars. "They are also willing to invest in other agricultural sector such a sweetcorn, and also in farming sector. They are still looking for the potential locations. Indonesia has been a premium choice due to its compatibility for plantation and CNG fuel development.", The Minister ended.
