China looks at oil palm for biofuel in PNG

A Chinese investor is looking at opportunities in oil palm development and management of oil palm plantations for biofuel in Papua New Guinea (PNG). The company, ZTE Agribusiness Co. Ltd., a subsidiary of ZTE, one of the biggest telecommunication companies in the People’s Republic of China, believes PNG can become the next location for its quest for expansion of oil palm plantation development and management. PNG has massive land available; the climate is also conducive for oil palm development. Two senior executives of the Chinese company recently held discussions with the Department of Agriculture and Livestock, as well as the Investment Promotion Authority and relevant government agencies. (February 11, 2010)