Madhya Pradesh-based KS Oils has acquired an additional 35,000 acres of land in Indonesia for oil palm plantations.

The acquired land is situated in Sumatra island of Indonesia, which has one of the most fertile lands for environmentally sustainable palm plantation in the world and has the highest yield of CPO.

With this acquisition, KS Oils' palm plantation land bank assets in Indonesia stand at 85000 acres with 50,000 acres being acquired in 2008.

KS Oils through its international subsidiary, KS Natural Resources Pte. Ltd. Singapore (KSNR) has planned an outlay of Rs 750 crores to acquire and develop palm plantations and related assets like CPO mills in South East Asia over the next 3 years.

Till date the edible oil manufacturing company has invested Rs 90 crores in its palm plantation assets in the region.

Reports suggest that, along with the current acquisition of 35000 acres and previous acquisition of 50000 acres, company's palm plantation will produce a total of 15,00,000 Metric Tonnes of Crude Palm Oil (CPO), which shall be 50% of the total expanded refining capacity of its Haldia refinery.

The palm plantation will start producing CPO from the year 2012.

The scrip of the company today closed at Rs 61, up 3% compared to its previous close of Rs 59. The counter has made 52-week-high and low of Rs 75 and Rs 30 respectively.