New Delhi, Mar 26: KS Oils Ltd today said it has acquired 50,000 acres of palm plantation in Indonesia with an investment of Rs 230 crores. ''The investment will yield 80,000 MT annually, which is 2.5 per cent of India's current palm oil imports. The company has set up operations and the plantation will be developed over next three years,'' a company statement said.
The investment, which will substantially bring down the raw material costs, has been routed through the company's wholly-owned subsidiary in Singapore. K S Oils is at present importing palm oil to refine and sell along with its main product of mustard oil in northern and eastern India.