Olam to Invest in Rubber Plantation in Joint Venture With Gabon
2012-3-19 0:00:00Font Size：Big Medium Small
Olam International Ltd. (OLAM), the commodity supplier partly owned by Singapore’s Temasek Holdings Pte, will invest in 28,000 hectares (69,000 acres) of rubber plantations in a venture with the Gabon government.
The total investment will be about $183 million and Olam will have an 80 percent interest in the venture and Gabon will have the balance, the company said today in a statement. Planting will start in June 2013 and finish in 2019, Ashish Govil, Olam’s head of rubber, said today on a conference call.
The venture may expand to 50,000 hectares depending on the first phase, Olam said.
Bloomberg
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