Pertamina plans to enter oil palm plantation business
Friday, May 8 2015 - 02:01 AM WIB
State-owned oil and gas firm PT Pertamina is planning to form a joint venture with state-owned plantation company to develop oil palm plantation to support its biodiesel production, reports said on Friday.
Pertamina Manager for the Development of Technology and New Energy, Andianto Hidayat was quoted as saying by Bisnis Indonesia that the company has allocated US$200 million for investment in biodiesel and green diesel development including for opening up oil palm plantation.
Andianto, however, said that the company would not immediately realize the plan considering the current drop in global oil price.
He said that the planned joint venture oil palm plantation project will be realized when oil price has reached ?good level.? (*)