Malaysian-owned Tzen Plantation Ltd in Papua New Guinea plans to expand its oil palm acreage to 8,000 hectares by the end of the year and with the addition of its newly constructed US$23 million mill, which is the largest investment at the site to date, the company plans to expand its planted acreage to 20,000 by 2016. The new mill has the capacity to process 25 tons of oil palm bunches and can be upgraded to process 45 tons per hour with a minimum capital expense. The palm oil industry is the fastest growing sector in Papua New Guinea and has been attracting large Malaysian producers. New Britain Palm Oil Ltd, which has recently become a takeover target of Sime Darby Bhd and the Malaysian Rimbunan Hijau Group both have large operations on the island.
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