LG Corp to buy palm farm in Indonesia

LG Corp to buy palm farm in Indonesia
By Nam Kwang-sik
SEOUL, Dec. 2 (Yonhap) -- LG Corp., a South Korea trading company, said Wednesday
that it plans to buy a palm farm in the western part of Kalimantan Island,
Indonesia within this year.

LG will spend US$27 million to acquire a 100-percent stake in the 16,000 hectare
farm, in a bid to produce 80,000 tons of palm oil annually so it can be used as
the base material for biodiesel production in 2012, the company said in a
statement.
Biodiesel is a non-petroleum-based diesel fuel made using vegetable oil or animal
fat, which can be used in unmodified diesel-engine vehicles.
ksnam@yna.co.kr
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