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Olam to Invest in Rubber Plantation in Joint Venture With Gabon

Olam International Ltd. (OLAM), the commodity supplier partly owned by Singapore’s Temasek Holdings Pte, will invest in 28,000 hectares (69,000 acres) of rubber plantations in a venture with the Gabon government.

The total investment will be about $183 million and Olam will have an 80 percent interest in the venture and Gabon will have the balance, the company said today in a statement. Planting will start in June 2013 and finish in 2019, Ashish Govil, Olam’s head of rubber, said today on a conference call.

The venture may expand to 50,000 hectares depending on the first phase, Olam said.

Bloomberg