UP ties up with Fuji Oil to build RM145mil plant

At the recently concluded International Palm Oil Congress & Exhibition (PIPOC 2017) hosted by the Malaysian Palm Oil Board (MPOB) here, LMC International chairman James Fry pegged crude palm oil (CPO) at RM2,700 to RM2,800 per tonne, while United Plantations Bhd deputy chairman Datuk Carl Bek-Nielsen(filepic) projected CPO at RM2,400 to RM2,800 per tonne in 2018.

PETALING JAYA: Plantation group United Plantations Bhd (UP) has formed a joint venture (JV) with Japan-based Fuji Oil Group to build an RM145mil high-tech palm oil processing plant in Ulu Bernam, Perak.

According to UP chief executive director Datuk Carl Bek-Nielsen, Unifuji Sdn Bhd, a 50:50 JV company between UP and Fuji Oil’s subsidiary Fuji Oil Asia Pte Ltd, will manage the new plant which will produce and sell high value-added palm oil fractions.