Edible oil company, K S Oils, today said it will develop Palm Oil Plantations in Indonesia and has acquired additional 53,000 acres of land for the three-year project, involving a total investment of around Rs 380 crore.
The company, through its wholly-subsidiary K S Natural Resources, has acquired an additional 53,000 acres of land for development of palm oil plantations, KS Oils said in a filing to the Bombay Stock Exchange (BSE).
"The total funds required for the new project would be around Rs 380 crore over the next three years," the filing added.
The company would fund the project through internal accruals and debt at subsidiary level, the company said.
In June this year, the company in continuation of acquiring palm plantation assets in South Asia, had made an additional acquisition of 35,000 acres of palm plantation land in Indonesia.