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Malasia's Sime to invest $800 mln in Liberia-source

Sun May 3, 2009 10:55pm EDT

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KUALA LUMPUR, May 4 (Reuters) - Malaysian oil palm to property conglomerate Sime Darby (SIME.KL) is to invest $800 million in a deal to produce palm oil and rubber in Liberia, a source familiar with the transaction said.

The deal covers a 60-year lease on 200,000 hectares of land.

An annoucement will be made later on Monday, said an industry source and it was not immediately clear over what period the money would be spent.

"It's $800 million and the deal was signed on Friday," said the source.

(Reporting by Niluksi Koswanage; Writing by David Chance; Editing by xxx)



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