Domas P&G sign $1.8b deal<\/p>\n
Ridwan Max Sijabat, The Jakarta Post, Jakarta<\/p>\n
Palm oil plantation PT Domas Agrointi Prima, a unit of the Sawit
\nMas Group, signed a second business deal worth US$1.8 billion
\nwith Procter & Gamble Chemicals (P&G Chemicals), a major American
\ncompany concentrating its activities in consumer products.<\/p>\n
The signing that took place in Singapore on Friday was
\nconducted by Sawit Mas Group Chairman Susanto Lim and P&G
\nDirector for Asia-Pacific Region Martin Herrington.<\/p>\n
Also attending the signing ceremony were P&G vice president
\nIan S. Edward, Domba Mas Group CEO Michael Utama Purnama, Bank
\nMandiri president ECW Neloe and BRI president Rudjito.<\/p>\n
Sawit Mas Group spokesman Erick Sitompul told The Jakarta Post
\nby phone that with the business deal, the second such deal this
\nyear, Domas Agrointi Prima would supply oleochemicals to the
\nAmerican company.<\/p>\n
\"This new contract gives a guarantee for our operation and for
\nthe life of thousands of workers employed in our plantations and
\nfactories,\" he said.<\/p>\n
He added that the two sides had been tied with a business deal
\ntotaling $2 billion as they signed such a contract worth $200
\nmillion in January, this year.<\/p>\n
He did not provide details of the second contract.<\/p>\n
Sawit Mas Group who have had a total of more than 100,000
\nhectares of oil palm plantations in Sumatra and operated several
\n(crude palm oil) CPO factories in Riau and North Sumatra, is
\nconstructing an integrated oleochemical factory in Kuala Tanjung,
\nsome 150 kilometers southeast of Medan, capital of North Sumatra.<\/p>\n
Edward, in his speech, appreciated the business deal that
\nwould be of mutual benefit for the two sides and their employees,
\nsaying that Domas had showed its seriousness by preparing several
\nlarge oil palm plantations, CPO factories and an integrated
\noleochemical factory, and this business deal would help spur on
\nIndonesia's economy in the future.<\/p>\n
He said that his company decided to enhance cooperation with
\nSawit Mas after it conducted a long in depth study that involved
\n50 experts.<\/p>\n
Bank Mandiri and BRI said that they were committed to helping
\nto finance the construction of the Sawit Mas Group's oleochemical
\nfactory because the business deal was quite promising.<\/p>\n
\"Bank Mandiri is committed to supporting the development of
\nthe agroindustry sector and major palm oil plantations in
\nSumatra, Kalimantan (Indonesian Borneo), Sulawesi and Papua,\" the
\nbank's president E.C.W. Neloe said after the signing ceremony.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/domas-pg-sign-18b-deal-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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