Triputra Agro Persada to Produce 500,000 Tons of CPO

October 26, 2011 – PT Triputra Agro Persada, a subsidiary of Triputra Group which is engaged in palm oil and rubber plantation and crude oil palm production, has just secured a syndicated loan from 9 banks worth US$ 260 million. The 9 banks participated in providing the facility are DBS Bank Ltd, OCBC Ltd, Standard Chartered Bank, Rabo Bank International Indonesia, The Bank of Tokyo – Mitsubishi UFJ Ltd, PT ANZ Panin Bank, Indonesia Exim Bank, United Overseas Bank, and PT Bank OCBC NISP Tbk. According to Arif Rachmat, CEO of Triputra Agro Persada, the fund received from the facility will be used for company’s expansion plan.

Currently Triputra Agro Persada operates 2 Crude Palm Oil (CPO) processing facilities, one in Jambi with capacity of 60 tons per hour and another one in Central Kalimantan with capacity of 45 tons per hour. The new plant will be established in East Kalimantan with expected capacity of 60 tons per hour. The company expects to produce 243,000 tons of CPO by the end of 2011. Production volume is expected to reach 400,000 tons next year and 500,000 tons in 2 years time.

In order to increase its production volume, the company not only plans to build a new facility but also to acquire around 50,000 hectare of land. Currently the company owns 277,000 hectare of land, but only 111,000 hectare have been planted. The company plans to plant all of its remaining land in 3 years time.

Toddy Sugoto, Commissioner of Triputra Agro Persada, also mentioned the company currently employs 12,000 labors and empowers more than 10,000 plasma plantations. The company will double the number of its employees to support the company’s aggressive growth.