Sao Paulo, Brazil, 12 Jan – The chairman of Indonesian group, RGM International (RGMI), Sukanto Tanoto, which has interests in China, said in Sao Paulo that the company was looking for partnerships in order to boost its business in Brazil, according to website Valoronline.
“We are very open to discussing any possibility of investments,” said Tanoto, whose group has operations in 12 countries and has US$8 billion in assets.
Via Sateri, one of the group’s five subsidiaries, the groups has applied US$400 million in expanding the facilities of Bahia Pulp, which has tripled its annual production capacity of 115,000 tons.
The aim is of the investment is to transform the Brazilian factory, located in Bahia, into one of the world leaders in the soluble cellulose market.
The work to expand Bahia Pulp is expected to be completed by September and the factory is expected to send much of its production to markets such as Asia, the United States and the European Union.
The Indonesian businessman also said that if there was “some interesting Brazilian government project or for a Brazilian company, we are willing to invest both in acquisitions and new businesses.”
Tanoto said that one of the sectors of possible interest was power generation and noted that one of the RGMI group companies, Pacific Oil & Gas, had partnerships with Petrochina and owned thermal gas and oil-fired power plants in China.
As well as Sateri, and Pacific Oil & Gas, the RGMI group has three other companies: April (paper and pulp), PEC-Tech (engineering, logistics and construction) and Asian Agri (dende oil). (macauhub)