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Barito Pacific invests Rp 800b for palm oil
JAKARTA: PT Barito Pacific is expanding its newly-established palm oil business by investing a total of Rp 800 billion (US$86
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AKARTA: PT Barito Pacific is expanding its newly-established palm oil business by investing a total of Rp 800 billion (US$86.4 million) in plantations and building two factories.
“The company is using Rp 530 billion in loans from Bank Negara Indonesia’s loan facility, to cultivate an area of 13,000 hectares for oil palm plantation,” said Barito investor relation officer Agustino Sudjono in Jakarta as quoted by news agency Antara.
He said Barito’s newly-acquired subsidiary, PT Royal Indo Mandiri, had already cultivated about 6,800 hectares up until last month.
“About 3,000 out of 6,800 hectares of plantations are already producing palm oil fruit,” he said, adding that Barito currently had almost 30,000 hectares prepared to plant oil palm.
President director of PT Grand Utama Mandiri, a company affiliated with Barito, Reza Andriyansah said Monday that Barito would use Rp 270 billion from its internal fund reserves to build two palm oil factories.
He said the first factory will have a production capacity of 75 tons of crude palm oil per hour in West Kalimantan, while second factory with a capacity of 60 tons per hour in North Sumatra. — JP
