IOI Corp has a plant in Chicago to produce fats for food ingredients manufacturers with a capacity of 200,000 tonnes annually.
IOI Corporation Bhd plans to set up a second plant in the East Coast of the US to expand its existing businesses there, apart from its Chicago plant.
With the second plant being planned, Lee said it would increase the total capacity in the US to 400,000 tonnes annually.
IOI Corp was eyeing the East Coast to set up the new plant because it has the second highest concentration of food ingredient manufacturers, after Chicago.
The group would also target to expand their operations in the West Coast in the future.
The group was on an acquisition trail, with an appetite for more lands for its plantation and property development divisions, as well as stakes in other companies, other than expanding its plants both locally and overseas. Recently acquired several Indonesia-based palm oil plantation companies for RM289 million.
three businesses in Pasir Gudang — refinery, specialty fats and oleochemical
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