KS Oils, a leading integrated edible oil company, has decided to develop palm oil plantations in Indonesia with a total investment of around Rs 380 crore, spread over three years.

It should be noted that in June this year, the company has acquired additional 53,000 acres of land, through its wholly-subsidiary K S Natural Resources for development of palm oil plantations. The company plans to fund the project through internal accruals and debt at subsidiary level.

The acquisition of land in Indonesia is considered in line with K S Oil's strategy of becoming an integrated edible oil player in South Asia and a leading FMCG player in India.

The stock of KS Oil today closed at Rs 68 on BSE. The stock had hit a 52-week high of Rs 71 on 30 September 2009 and a 52-week low of Rs 30 on 27 October 2008.