|
MP Evans Group PLC on Monday said that it has bought additional planted land for $14.3 million near its Simpang Kiri estate in Indonesia. MP Evans is a Kent, England based company which produces crude palm oil through sustainable methods. The group said it had successfully acquired the shares of two Indonesian companies, PT Tenunggulon Raya and PT Dharma Agung, which, together, own 2,100 hectares of land planted with oil palm near the group’s property in the Aceh Province. The company spent $6,800 per hectare of land. This purchase comes as an attempt to expand a planted area of 4,800 hectares in order for the company to build its own palm-oil mill. With one, the group said it would be able to process 100% of its own crop and increase its sustainable palm-oil production. ‘This is an excellent acquisition, fully in keeping with our stated strategy and supported by the group’s balance sheet,’ said Executive Chair Peter Hadsley-Chaplin. ‘Thanks to a combination of the good price at which it has been secured, and the added scale it gives the group around Simpang Kiri, these additional hectares are further fuel for the M.P. Evans growth engine.’ MP Evans shares were trading 0.2% higher at 821.20 pence each in London on Monday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
