Samsung plans $1.63 billion palm, biodiesel investment, says Indonesian official

In Indonesia, Samsung Group announced that they plan to invest $1.63 billion in biofuels, with a 25,000 hectare oil palm plantation and a 13.2 Mgy biodiesel plant in Riau province. The South Korean company has acquired the initial land and the biodiesel plant via a $163 million investment, and head of Indonesia’s biofuel development authority, Al Hilal Hamdi told the Jakarta Post that “the total investment will likely increase by 10 times”.  Samsung’s Indonesia office has not confirmed the investment.

More background on Indonesia developments is here.

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