Liberia, Golden VerOleum Plan to Invest $1.6 Billion in a Palm Oil Complex

Golden Agri-Resources Ltd., part of Indonesia’s Sinar Mas Group, said the government of Liberia and Golden VerOleum (Liberia) Inc. plan to invest $1.6 billion in oil palm plantations in the African nation.

The partners are seeking other investors to contribute to the planned spending, according to a statement filed today by Golden Agri-Resources to the Singapore stock exchange. VerOleum is a unit of Verdant Fund LP, in which Golden Agri-Resources is an investor, according to the statement.

The investment is expected to help small farmers in sustainable planting and will create more than 35,000 jobs, the statement said.

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