Mewah International to build an IDR1.3 trillion palm oil processing plant

JAKARTA: Malaysia’s second biggest palm oil producer, Mewah International Inc, is eyeing another investment in Indonesia amounting to IDR1.3 trillion.
As written on its disclosure to Singapore Stock Exchange, the US$145 million fund will be taken from IPO proceeds, internal cash and bank loan. “We will invest in processing, packaging, and logistics-related facilities plant in East Java,” stated Rajesh Chopra, Mewah’s Chief Financial Officer. The construction is expected to finish in 2013. The new plant in Indonesia is estimated to increase the business group production capacity by 23%. The company has sold 3.8 million metric ton palm oil while production capacity from plant in Malaysia is only 2.5 million metric ton or 90% of the total utilization. With such condition, the company needs 1.3 million ton palm oil from CPO processing company to meet the target. (T05/msw) by : Rajesh Chopra, Chief Financial Officer Mewah. Sourch : bisnis.com