LION Forest Industries Bhd has entered into a joint venture with Pemerintah Kabupaten Malinau (PKM) to develop 40,000ha of oil palm plantation and build two crude palm oil mills in Malinau Regency, Kalimantan Timur.
The joint-venture company, PT Lion Intimung Malinau (PT Lima), would have a paid-up capital of US$5mil, Lion Forest told Bursa Malaysia yesterday.
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