29 Apr 2013

Malaysian palm oil giant eyes PNG plantation land

6:45 pm on 29 April 2013

The world's largest crude palm oil producer, Felda Global Ventures Holdings Bhd, or FGV, has signalled it may venture into Papua New Guinea to increase its plantation land.

The President and chief executive officer of the Malaysian company, Datuk Sabri Ahmad said Papua New Guinea's government officials have asked for FGV's help in starting oil palm plantations in PNG.

Sabri told Business Times that PNG land is suitable for oil palm.

He says that FGV is conducting feasibility studies and technical due dilligence and that if the company decides to go to PNG, it can easily start with an initial 10,000 hectares operation.