Arrow Acquires Additional Plantation Development Site from GMPLH and Local Farmers
NEW YORK, Aug. 23, 2011 /PRNewswire/ — Arrow Resources Development, Inc. (OTCBB: ARWD) and its joint venture partners have acquired a 100% equity interest in a development site from local Indonesian farmers and GMPLH, one of the largest nonprofit organizations in Indonesia. The site is in the Tuli Tuli province of Sulawesi and will provide Arrow/PT Tiga Daun 45,000 Ha (111,150 acres) to expand its plantation and farming operations. The average annual production equates to 21 tons per hectare with the current Indonesian market price of $380 per ton thus yielding $7,980 per hectare annually. This would produce annual projected revenue of $355,000,000 and $35,500,000 to Arrow.
About Arrow Resources Development, Inc.
Arrow Resources Development, Inc. develops and coordinates corporate operations, finance, sales and marketing activities along with administrative activities, both in the Unites States and Indonesia and manages the corporate citizen program for this natural resource development company in the Asian market. Its relationship with Arrow Pacific Resources Group Limited (BVI Company) is for the development of large scale plantation, farming and geothermal operations in Indonesia. The Joint Venture partners include Arrow Pacific, Gerakan Masyarakat Pelestari Lingkungan Hidup (GMPLH), one of Indonesia’s larger non-profit organizations and PT Tiga Daun (Indonesian company owned by Arrow Pacific’s Indonesian operating Company). Arrow Resources’ agreements entitle the Company to 10% of all gross revenue generated by all their partners’ plantation/farming including any and all sales of natural resources and derivative products.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company’s future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company’s actual results may differ materially from expected results. For more information about the company, please visit their website at www.arrowrd.com.
SOURCE Arrow Resources Development, Inc.