Bakrie Plantations invest in Liberia

Publicly listed company PT Bakrie Sumatera Plantations is preparing US$10 million to make investments in Liberia through its subsidiary, Bakrie Liberia Plantations BV.
President Director of Bakrie Plantations Ambono Janurianto explained the company was eyeing 200,000 acres of areas in the country with a concession time of 100 years.
"For a start, we will need an investment of US$10 million, which will be used to develop several facilities in planted areas," he told Bisnis this week.
At the moment, he added, the company was negotiating the land acquisition plan with the Liberian government. "The land has been fully owned by the Liberian government and 4,000 acres of the areas have been planted with rubber. In the meantime, 6,000 acres of the areas have been planted with oil palm."
He added once the land acquisition was approved of, the company would spend US$10 million on refinery or other facilities on the area. "We will seek more funds for further investments, so that all areas can be planted and productive."
According to Ambono, the company might seek funds from hybrid capital, bonds, or loans from financial institutions.