SOE's Expansion to Build Red Palm Oil Factory

By Editorial Team 09/01/2023
palm oil
Summary

State-Owned Enterprises (SOEs) Minister Erick Thohir plans the expansion of red palm oil factories by private and state-owned companies in the plantation sector. According to Erick, a red palm oil factory will be built on every 1,000 hectares of oil palm plantation. Funding for the plant will come from a collaboration between the Ministry of Cooperatives and Small and Medium Enterprises and corporations. "So that people have their own factories," Erick said on Friday.

The red palm oil factory guarantees that there will be no shortage of cooking oil in the future. He said he would hold trials in three locations of 1,000 hectares, one factory with cooperatives and SOEs. "I have asked SOEs to assist; SOEs also help with people's business loans and working capital," he said, adding that the red palm oil factory is a way for SOEs to intervene in the market from cooking oil shortages.

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