Indofood Agri plans to build new sugar mill in Indonesia-CEO

April 7, 2015 5:47 AM

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JAKARTA, April 7 (Reuters) - Singapore-listed plantation firm Indofood Agri Resources Ltd could invest at least $150 million to build a new sugar mill in Indonesia, its chief executive told Reuters on Tuesday.

"If you look at the Indonesian domestic sugar market, it's significantly short of sugar," said Mark Wakeford, CEO of Indofood Agri. He estimated that Indonesia produces 2.5 million to 2.6 million tonnes of sugar a year and consumes up to 5.5 million tonnes.

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