C P Pokphand Co is stepping up its investment in Indonesia's agriculture industry by paying $31 million to acquire a 10 per cent stake in a farm in the country. The company said yesterday wholly owned subsidiary Everwell Developments had signed a joint-venture agreement to form a company, Bratasena, in a move to invest in, operate and develop a seafood farm. Everwell will invest US$4 million to acquire a 10 per cent stake in the newly formed company while the rest of the remaining shares will be owned by C P Pokphand's associate companies and connected parties. They include Charoen Pokphand Feedmill Public, Charoen Pokphand Group, Progressive Enterprises and Charoen Pokphand Indonesia. The investment is conditional on approval from the Indonesian authorities.