Kolkata-based diversified group Emami today said it is scouting for palm oil plantation opportunities in Malaysia and Indonesia to augment its edible oil business.

The company, which already has a one lakh acre plantation in Ethiopia, is also investing around Rs 1,000 crore in setting up an extraction unit in the African country and two new edible oil refineries in India.

"We are looking for palm oil plantation in Malaysia and Indonesia but nothing is concrete now," Emami Director Aditya Agarwa said.

He said the idea for looking out for overseas plantations was to augment Emami's plans to strengthen edible oils business of group company Emami Biotech Limited.THE END

Source: The Economic Times