Cargill Prepares Investment of US$700 Million

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  • Sofyan Djalil. TEMPO/Dhemas Reviyanto Atmodjo

    Sofyan Djalil. TEMPO/Dhemas Reviyanto Atmodjo

    TEMPO.CO, Jakarta - Coordinating Economy Minister Sofyan Djalil said on Monday global food company Cargill will invest up to US$700 million and a factory will begin operation in Surabaya.

    Cargill expressed its interest to increase investment in manufacturing sector especially in building high-technology fodder factory. “This is to complement its many investments in Indonesia,” said Sofyan.

    He continued that the government also asks Cargill to help in improving productivity and quality of cocoa production to enhance chocolate business in the future. “We will see how they can also help in increasing corn productivity in Indonesia,” he said.

    Cargill is also asked to process domestic foodstuffs to become high-quality products so that they have good selling points. “It’s better than just exporting the raw materials,” he said.