Since 2015, the Indonesian Oil Palm Estate Fund (BPDPKS), which is tasked with strengthening and promoting sustainable practices in the industry, has been imposing a $50 per ton export levy on crude palm oil and $30 per ton levy on crude palm oil derivative products when prices drop below $750. (Antara Photo/M. Rusman)

Sawit Sumbermas Sets $45m Capex This Year

BY :VANESHA MANUTURI

APRIL 24, 2015

Jakarta. Sawit Sumbermas Sarana, a unit of oil palm plantation company Citra Borneo Indah, says it will set aside $45 million in capital expenditure to boost its business growth this year.

“[The capital expenditure] is needed to keep the company’s business growth and to boost expansion this year,” Rimbun Situmorang, Sawit Sumbermas Sarana’s president director, said on Thursday.

He said $30 million of the capital expenditure would be used for new plantations, while the rest would will be used for plantation maintenance.

The listed company acquired two oil palm plantation companies, Tanjung Sawit Abadi and Sawit Multi Utama, in February. The acquisitions brought the company’s total agricultural land to 59,386 hectares.

GlobeAsia

SHARE