BANGKOK, 3 October 2011 – PTT Public Company Limited is planning to invest 600 million THB in the construction of another palm oil factory in Indonesia which, the company boasts, will be able to produce 45 tons of oil per hour.
The President of a PTT subsidiary, PTT International Plc Ltd, Mr. Jitpong Kwangsuksathit, said the plant will be the second in a series after the PTT’s first factory in Indonesia has been put into operation at the beginning of this year.
To ensure the supply of oil palm to the new factory, the company is also planning to grow 1.2 million more rais of oil palm trees within 5 years.
PTT Plc Ltd has grown 60,000 rais of palm trees so far with half of them are ready to be harvested. The refined palm oil will be supplied to Indonesia’s central market, which is the distribution center and has customers worldwide.
The company earlier planned to grow three million rais of oil palm within 5 years but later reduced the area to 1.2 million rais. It is expected that by the end of this year the area of oil palm plantations will have covered 200,000 rais. The expansion of oil palm cultivation is expected to cost 40 billion THB while it will need around 600 million THB to build the second palm oil refinery. The PTT also has plans to build 20 more of the factories.