Singapore based Wilmar International ready to carry out detailed agribusiness feasibility study

The world's second largest Agribusiness, Wilmar International Limited is set to immediately start a detailed feasibility study on two Joint Ventures (JV) with the Government of Papua New Guinea (PNG) on commercial large-scale rice farming and chicken production.

Wilmar CEO & Chairman, Mr. Khoon Hong Kuok said this in a meeting this week with the Minister for International Trade and Investment, Richard Maru in Singapore upon his return from the World Trade Organization (WTO) Ministerial Conference in the United Arab Emirates. 

Mr. Kuok said PNG has so much potential to be a giant in agriculture and just needs good partners, commitment and available land to realize its potential.

“Wilmar is ready to come to PNG in the next two weeks to start a feasibility study for commercial large-scale rice farm in Rigo, Central Province and in the Sepik Plains, and chicken production for broilers, eggs, and day-old chicks in Port Moresby.

“The same is true for rice. PNG has great weather, very rich soils, high yielding rice varieties, and if land is made available PNG can easily produce enough rice to replace the 400,000 metric tons of rice PNG imports valued at K900 million annually,” Kuok said.  

Wilmar International Limited is the largest and most integrated leading agribusiness group in the Asia Pacific Region and it is ranked amongst the largest listed company by market capitalization on the Singapore Stock Exchange.

PNG signed an MoU with Wilmar in December last year to invest in the domestic rice industry, chicken operations, feed industry, flour, oil palm, and sugar as equity partners.

Minister Maru assured Mr. Kuok that the PNG Government is ready with equity to fund the large-scale commercial rice farm and chicken production in Port Moresby subject to the feasibility studies to determine commercial viability of these two potential projects under the proposed JV.