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IndoAgri invests in Brazil sugar cane plantation and mill JV

PC Lee Published on Mon, Feb 19, 2018 / 7:39 AM GMT+8

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SINGAPORE (Feb 19): Indofood Agri Resources' Brazilian subsidiary has invested in a sugar cane plantation and mill joint venture.

Under the agreement, IndoAgri Brazil and JF Investimentos (JF) will contribute an initial capital of BRL 23.6 million ($9.4 million) to the JV called Canápolis.

Following the capital injection by both parties, Canápolis will become a 50:50 joint venture between IndoAgri Brazil and JF. IndoAgri Brazil has contributed its 50% share of capital on Feb 15.