SK NETWORKS GETS NOD FOR RUBBER PLANTATION IN INDONESIA

SEOUL, Mar 11, 2009 (AsiaPulse via COMTEX) -- SK Networks Co. (KSE:001740), South Korea's biggest trading company, said Wednesday the Indonesian government has approved its plan to develop a rubber plantation on one of the country's islands.

The plantation will be formed on 28,000 hectares of forest on Kalimantan Island, with the project to be launched in the second half of this year, SK Netoworks said. The plantation will produce 24,000 tons of natural rubber annually by 2013, it said.

For the project, SK Networks in January bought a 90 per cent stake in PT Inni Joa, a South Korean firm that owns the property.

SK Networks is aiming to secure an annual average of US$43 million in sales from the rubber plantation.

(Yonhap)