TWO Chinese companies, Mazhongdu International and Hainan Baisha Industrial, are teaming up with a Malaysian firm, Hateg, for a rubber production joint venture in Indonesia, in what is said to be a US$1.14 billion investment project over the next five years.
The first phase of the project in Kalimantan will cover 1,000 ha over a year at a cost of RM40 million, while another 40,000 ha will be planted over five years after that. The joint venture partners are also in discussion to expand the plantation to 200,000 ha, which will bring the total investment to about RM8 billion.(PRA)
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