LG Corp. completes palm oil plant in Indonesia

The South Korean trading company LG Corp. has completed construction of a palm oil plant in the western part of Kalimantan Island in Indonesia. The new facility will produce about 40,000 tons of palm oil annually, and the company has plans to expand to 80,000 tons. Palm oil is used as a raw material for biodiesel.
LG Corp. bought the 160-square-kilometer palm farm in the island in December 2009. The company said it plans to buy other palm farms in the area. (October 10, 2012)