Holding PTPN Wants to Form a Sugar Factory, Needs Rp 23 T

Jakarta - PT Perkebunan Nusantara/PTPN III as PTPN holding plans to form PT Sugar Company (SugarCo). There are seven subsidiaries in the sugar sector will be combined.

PTPN III President Director Mohammad Abdul Ghani said the merger was part of a sugar business restructuring designed by the company so that the production of this commodity competes with other producers and imported sugar.

"So far, seven PTPNs each have PG, later we will make the seven PTPNs into one entity whose name is SugarCo in charge of PG-PG," he said in a hearing (RDP) with Commission VI DPR RI, Monday (21/6/2021). ).

PTPN III will cooperate with the Investment Management Institute (LPI) to find investors in SugarCo.

Abdul Ghani mentioned the need to cooperate with investors, one of which is to help fund the formation of SugarCo, which is needed around Rp. 23 trillion. The funds are for the plan to build five factories and revitalize one factory.

"In our future targets, especially towards SugarCo Aggressive, it requires at least Rp. 23 trillion investment to build, there are plans for five new factories and one old factory being revitalized," he added.

In addition, there will also be an expansion of the sugarcane planting area from 55,000 hectares to 85,000 hectares to boost sugar production. Abdul Ghani doesn't want it to be done only on lands that already exist in Java.

"If we impose too much on Java based on existing land, we are worried that it will interfere with rice self-sufficiency, so PTPN will acquire its own land, especially HGU lands in North Sumatra, Lampung, West Java, Central Java, East Java, which are partially rubber plants. Our palm oil will be converted to sugar," he added.