The Central Government is currently promoting the nationwide use of palm oil as biodiesel. After the B20 biodiesel was introduced this year, the Government also plans to launch B30 biodiesel until B100 biodiesel.
“Despite the rumored slowdown of palm oil export sdue to RED II initiated by the European Union, we are fine with fulfilling the domestic palm oil demand.” said PT Palma Serasih CEO, Budiono Tanbun, on Monday, November 25, 2019.
The company, under the code PGSO, has recently made its initial public offering (IPO). The company is the 48th company to have made IPO this year.
The company has offered its stock at 105 rupiah per share. It has released as many as 2.85 billion shares.
As of now, the company has made investments into 14,400 hectares of land with its subsidiaries operating additional 80,000 hectares of land and 31,000 hectares of plantation.
“With IPO, the company hopes to create values for our national economy, especially in
the palm oil sector,” he said. (Translator: Muhammad Gestinev)