Samsung keen to invest US$1.63 bln in Indonesian biodiesel project

South Korea's Samsung Corp. (KSE:000830) wants to invest up to US$1.63 billion to build a biodiesel plant and establish oil palm plantations in Riau, an official said.

The Korean giant has already acquired land and a crude palm oil factory in Riau, Alhilal Hamdi, chairman of the National team for the Development of Biofuel (BBN), said.

Samsung plans to build a biodiesel factory with an annual capacity of 50,000 kiloliters, Hamdi said, adding that the factory is expected to come into operation next year.