JAKARTA (Yosefardi) – Triputra Group, owned by TP Rachmat, plans to invest US$300 million this year on biofuel and biodiesel products amid the declining prices of crude palm oil (CPO) due to the global economic slowdown.
Triputra allocates US$200 million for palm plantation business. The group also mulls to launch the initial public offering (IPO) of its unit PT Triputra Agro Persada.
Triputra has palm plantation area of 388,000 hectares and will be expanded to 600,000 hectares by 2020. Triputra also has unit, PT Kirana Megatara, engaging in rubber plantation. In logistic sector, Triputra has unit, PT Puniar Logistics which controls 80% market share of national automotive logistic business.