Malaysian Palm Oil and Jatropha Receive Investment

Kuala Lumpur, Malaysia | April 29, 2008 by D-8 Secretariat

Malaysia-based IJM Plantations, part of construction and investment company IJM Corporation, will invest $185 million (€127 million) to develop land in East Kalimantan, Malaysia, for palm oil production.

The company has increased its plantations to 60,000 hectares in the past two years, and will add another 30,000 hectares with this development.The company is constructing a biodiesel plant in Sabah and is proceeding with building and installation of a first processing module with 9 million gallons a year capacity.

Apart from palm oil, the Sabah Land Development Board (SLDB) has proposed to expand jatropha capacity in Malaysia, as a poverty-reduction programme, claiming farmers could earn RM 1500 (€317) a month from farming 6-acre plots of jatropha seedlings.

The SLDB says that said that Nihon Biotech, Kelana Stabil and TKM Resources have indicated that they would invest up to RM 300 million in jatropha cultivation and would purchase the fuel for export to the US, Japan and South Korea. Sabah also announced this month that it would seek $304 million over 18 years from the Federal Government to assist in the development of its Palm Oil Industrial Cluster (POIC) in Lahad Datu.

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