Jakarta (ANTARA News) - PT Sawit Sumbermas Sarana Tbk (SSMS) plans to build three new factories to process oil palm fruits to produce crude palm oil (CPO) in 2019.
Chief Executive of SSMS Vallauthan Subraminam said the company already has six such factories each with a processing capacity of 300,000 tons of oil palm fresh fruit bunches per hour.
"Early next year we plan to have a new factory and two more later that year," Subraminam said here after a shareholders meeting on Monday.
With price is low in international market, the company, which has oil palm plantation in Pangkalan Bun, Central Kalimantan, hopes to maintain profit margin by increasing production and sales, he said.
He said the company has set aside Rp500 billion - Rp530 billion for capital expenditure mainly to finance the construction of the new factories.
Source: ANTARA News