MGRO - PT. Mahkota Group Tbk

Rp 720

-5 (0%)

JAKARTA. PT Mahkota Group Tbk (MGRO), a crude palm oil (CPO) producer has completed the commissioning phase of its refinery plant in Dumai, Riau. The plant is expected to be operational in mid-February 2020.

President Director of MGRO, Usli Sarsi said that the company is currently preparing 15,000 tons of raw material for CPO to start production. The raw material comes from MGRO's palm oil mill in Riau.

MGRO targets the refinery plant to produce 200,000 tons of CPO by the and of 2020. "For the first year, production target for the refinery is around 30 percent of its full capacity per year, assuming the calculation of capacity utilization per day is 1,500 tons," Usli was quoted as saying by on Friday (24/1).

The refinery plant will produce CPO-derived products, such as Olein or cooking oil, stearin as a raw material for margarine, and oleochemicals.

MGRO expects the new plant to contribute around 40 percent of its revenue in 2020. For 2020, MGRO is targeting its revenue to reach Rp 5.66 trillion with a profit of Rp 123 billion. (AM/AR)