SINGAPORE - Singapore's second-largest listed palm oil plantation firm Golden Agri-Resources said on Tuesday it was looking at investing in a firm that will control 220,000 hectares of land in Liberia.
The company, which is part of Indonesia's Sinar Mas Group, said it was planning to invest in private equity fund Verdant that is the sole shareholder of a Liberia-based firm in the process of being granted a government concession to develop 220,000 hectares for 20 years.
Golden Agri did not give financial details of the possible transaction for the land, which is three times the size of Singapore, but said the initial development will commence with 15,000 hectares.
The move comes after Indonesia announced plans to impose a two-year moratorium on new permits to clear forest for oil palm cultivation from 2011. -- REUTERS
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