Monsanto to invest US$5 million in Indonesian seed industry

Jakarta, Indonesia
December 4, 2007

Source: Asia Pulse Pty Ltd via Checkbiotech

Multinational company PT Monsanto has expressed readiness to invest around US$5 million in the development of a seed industry in Indonesia, said an Agriculture Ministry official.

The company would develop seeds of such food crops as paddy, corn and soybean in the country, said Sutarto Alimoeso, a spokesman of the ministry's food crops directorate general, on Monday.

But he also said development of a food crops seed industry did not need a very big investment because a number of major national companies, namely PT SAS (an Artha Graha subsidiary), PT Bosawa, and PT Medco were currently developing a similar industry.

Mr Sutarto said PT Bosawa and Sampoerna Sinergies had signed a memorandum of understanding (M0U) to develop oil palm and cassava as the raw material of biofuel, and hybrid paddy in Sulawesi, while PT Medco was also developing cassava and paddy through System Rice Intensification.

Besides private companies, regional governments, such as North Sumatra's provincial administration, are also cooperating with Singapore to develop corn "The government will continue to support any party which intends to invest in a seed industry," said Mr Sutarto.
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