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July 23, 2008

Indonesia: Samsung keen to invest $1.63bn in biodiesel project
South Korea's Samsung Corp wants to invest up to $1.63 billion to build a biodiesel plant and establish oil palm plantations in Riau, Antara news agency quoted an official as saying.

The Korean giant has already acquired land and a crude palm oil factory in Riau, Alhilal Hamdi, chairman of the National team for the Development of Biofuel (BBN), said.

Samsung plans to build a biodiesel factory with an annual capacity of 50,000 kiloliters, Hamdi said, adding that the factory is expected to come into operation next year.

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