PT Sinar Mas Agro Resources and Technology Tbk Drives Biodiesel Line
PT Sinar Mas Agro Resources and Technology Tbk. will increase the capacity of the biodiesel plant with a capital expenditure allocation of Rp360 billion.
Jimmy Pramono, Deputy Director of Sinar Mas Agro Resources and Technology, said that the company is optimistic about the prospect of crude palm oil prices. This is in line with the limited supply of global vegetable oil which is affected by dry weather conditions in South America and other parts of the world. The company hopes that the price of crude palm oil (CPO) can move in the range of US1,000 to US$1,100 per ton in 2021. "We are targeting production, profit and sales growth in the range of 8%," he explained. On the expansion side, the issuer with the stock code SMAR has prepared a number of business developments to improve the company's financial performance. One of the efforts made by SMAR is to increase the capacity of the biodiesel plant in Tarjun, South Kalimantan. Along with these efforts, SMAR has prepared a capital expenditure (capex) budget of IDR 1.2 trillion. In detail, as much as Rp. 400 billion will be used in the plantation or upstream sector. "Meanwhile, the remaining Rp800 billion is allocated for the company's downstream business unit, including the development of a biodiesel factory," he explained, Tuesday (15/6). Of this amount, capex funds of Rp360 billion have been specifically allocated to increase the capacity of the biodiesel plant. Director of Sinar Mas Agro Resources and Technology Gianto Widjadja added that the progress of developing a biodiesel plant in Tarjun has now reached 40 percent. The company targets the plant to be fully operational in 2022. "For the biodiesel plant, we estimate the completion target in the second half of 2022," he said.
|•SOURCE•| Image :BERITA SATU |
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