TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Palm oil firm Dharma Satya's capex falls short

  • Norman Harsono

    Jakarta

Jakarta   /   Tue, September 22 2020   /  01:00 am
A plantation laborer carries bunches of oil palm at PT Wanasawit Subur Lestari plantation in Pangkalan Bun, Central Kalimantan in this 2015 photo.(JP/Dhoni Setiawan)

  Publicly listed palm oil producer PT Dharma Satya Nusantara (DSN) expects its capital expenditure (capex) this year to fall short of the target by 27 percent at Rp 800 billion (US$53.6 million) due to COVID-19-induced project delays.   The company explained that partial lockdowns had delayed labor and supply inflows to two crude palm oil (CPO) processing factories being built in Kalimantan. DSN currently has 10 such factories in operation.   The new factories, work on which began in 2019 and cost roughly Rp 250 billion each, were slated for completion in 2021, DSN president director Andrianto Oetomo said on Thursday.   “We were hit hard by COVID-19, particularly between March and July,” he said at the virtual inauguration ceremony for a new biogas plant.   Read also: First-half contraction in palm oil output, exports d...