Kamis, 21 Maret 2013

FOREIGN FIRMS EYE RI OIL PALM WASTE BUSINESS

By Andi Abdussalam
          Jakarta, March 21 (Antara) - Indonesia is the world's largest crude palm oil (CPO) producer with an annual production of 25.5 million tons, but the commercial benefit of its oil palm refuse has not yet been maximally exploited.
         A number of foreign companies, including from South Korea and Poland, have expressed interest in processing oil palm wastes to produce biomass energy and electricity.
        The foreign investor companies which are exploring the opportunities included the EN3EN,  Daekwang Industries Co. Ltd of South Korea and PT Kepulauan Energi Lestari of Poland.
         In Riau province, the South Korean government through EN3EN firm is interested in making investment with an initial fund worth US$50.1 million in this sector.
         "EN3EN is the only company which wins the full support of the South Korean government in the development of energy conversion from oil palm wastes. We have begun to build a pilot project in Siak and Kampar of Riau province," Kei Sin Kim, senior and financial adviser of EN3EN, was quoted by Infosawit.com online as saying last month.
         In its cash flow analysis, EN3EN depicts that the needed initial capital amounted to US$54 million. In in the 1-10 year period the cash flow would decline to US$11 million but would already enjoy an income of about US$40 million.

 
         In the 10 years, its estimated spending would reach US$172 million with a total income of US$307 million and a cash flow of US$134 million.
         "We have estimated our initial funding at US$66.3 million. The available initial funds from the company and from the South Korean government have amounted to US$16.1 million. We plan to obtain additional funds from Korean, local and international investors worth US$50.3 million," said Kim.
       He said that his company planned to go public in a five-year time so that its financial strength and dividend would become stronger.
         Besides Korean companies, a Polish firm PT Kepulauan Energi Lestari is also eying the oil palm waste potentials of Riau province.  PT Kepulauan Energi Lestari is planning to build a 3-4 MW power generator in Kampar District, Riau province, using oil palm wastes.
         It will use wastes as raw materials from oil palm factories to produce electricity. President Director of PT Kepulauan Energi Lestari Daniel S Kuswandi said on Wednesday that the electricity his company would produce would be supplied to local consumers through state-owned electricity firm PLN.
         However, Daniel did not disclose the amount of the investment his company would make for the project, except saying it would be millions of dollars.
         Kampar District Head Jefry Noer said Kampar District had 37 palm oil factories which produced wastes that could be used as raw materials to produce electricity. "These factories produce some 54 tons of tongkos (fruitless oil palm bunches) wastes per day. This excludes oil palm shells and trunks wastes," he said.
         According to Daniel S Kuswandi, the  raw materials that his company will use  to produce electricity are 70 percent oil palm's trunks and shells while the other  30 percent are oil palm's tongkos (fruitless bunches).
         He said that the use of the raw materials was a new way to manage wastes into producing renewable energy.
         "We hope that we could reach the break-even point and enjoy a profit in the coming several years of operation," Daniel said.
         District Head Jefry Noer said that the local government of Kampar supported the development of the power generator project by PT Kepulauan Energi Lestari.
         "This could help the Kampar government reduce unemployment and poverty rates," he said.
         In the meantime, another South Korean company, Daekwang Industries Co. Ltd, is also exploring  the possibility of investing in oil palm waste business  to produce biomass and electricity in Bangka Belitung (Babel) province.
        "Representatives of South Korean firm Daekwang Industries Co. Ltd came here recently and offered cooperation to the local government to process oil palm wastes," Local Investment Coordinating Agency (BKPMD) Head Zakaria Umarhadrdi said on Wednesday.
         He said that the Korean company would use oil palm shells as raw materials to produce electricity. This is expected to help meet the electricity need of the local people as well as businesses to develop industry.
         "We hope that Bangka Belitung Governor Eko Maulana Ali would meet the Korean investor in the near future to discuss the follow up of the Korean plan," he said.
         Earlier, Babel Deputy Governor Rustam Effendi expressed his appreciation to investors who were ready to develop power plants that utilize existing potentials in the province.
        "We hail if there are investors who want to invest in the production of electricity," the deputy governor said.
         Zakaria said that the cooperation was offered to the regional government company (BUMD) to collect oil palm wastes from farmers.
         "So, if the cooperation is realized, the BUMD will collect oil palm wastes such as oil palm shells. We can issue a regulation so that farmers would not sell their shells to a party other than the BUMD," he said.
          Zakaria said that the shells would be used as raw materials for the production of biomass energy. "With the biomass, we will produce electricity to be channeled to residents through state-owned electricity PLN," he added.
         He said that electricity was still a main constraint in the development of investment in Babel province, which is rich in mineral resources, tin and pepper potentials.
         "There are many investors who are interested in making investment in Babel. Many of them have come here to explore the opportunities but we have a classic problem, namely the shortage of electricity that is needed to develop industry in the province," he said.
         He said that with the presence of investors which developed environment-friendly power generators, the need for electricity would be met.***3***

(T.A014/  )


(T.A014/A/A. Abdussalam/O. Tamindael) 21-03-2013 15:3

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