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SIPEF buys 1,770ha of oil palm plantation land in Indonesia

SIPEF buys 1,770ha of oil palm plantation land in Indonesia

Belgian agro-industry group SIPEF, through its subsidiary Muko Muko Agro Sejahtera (MMAS), has acquired 1,770ha of oil palm land from Asri Rimba Wirabhakti in the Indonesian province of Bengkulu. Located in the regency of Muko Muko, the transferred land comprised 370 planted hectares of oil palm and a potential of 1,400ha of new oil palm plantings for smallholders after the completion of an assessment by the Roundtable for Sustainable Palm Oil (RSPO) and SIPEF’s own sustainability guidelines, the firm said in a 24 August statement.The IDR36.6bn (US$2.46M) deal is expected to be completed by April 2019

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