JAKARTA. PT Delta Giri Wacana announces its latest plan to build a manufacturing plant of pesticide raw materials in Cikande, Serang, with investment worth USD 20 million or IDR 294 billion.

David Yaory, President Director of DGW Group, said that this factory will be erected on a lot of 4.5 hectares, starting mid-year. The manufacturing plant is projected to start operating in its first phase by the end of this year.

DGW Group designs this plant to be able to produce oxamyl and methomyl of up to 2,000 metric tons per annum. The capacity will be bumped up to 6,000 metric tons per year bit by bit.

“The capacity increase will definitely be initiated according to the increase of demand after the factory operates,” Yaory explained in an official statement.

Earlier this month, DGW Group also kicked off a meeting regarding the plan of initial public offering (IPO). This meeting is attended by the Board of Directors of DGW Group and other stakeholders, including joint lead underwriters and other supporting agencies.

“As of now, we are currently in the preparation of conducting IPO, which is projected to take place in 2024,” Rendi Julias, Corporate Communications Specialist of DGW Group. (KR/ZH)